Category Archives: Smart Contracts
Crypto in the Real World: Practical Applications of Blockchain … – Medium
Photo by Ales Nesetril on Unsplash
In the whirlwind of technological advancement, blockchain technology has transcended its origins in the realm of cryptocurrencies to become a transformative force with real-world applications. Beyond the buzz of speculative markets, this article explores the tangible impact of blockchain in various industries, showcasing how it is reshaping the way we conduct business, secure data, and even approach social and environmental challenges.
One of the most immediate and tangible applications of blockchain technology lies in enhancing supply chain management. Blockchains immutable ledger ensures transparency by providing a secure and unalterable record of every transaction and movement in the supply chain. This not only reduces fraud but also enables consumers to trace the origins of products, fostering trust and accountability in the production and distribution processes.
The financial industry is undergoing a radical transformation thanks to the advent of decentralized finance (DeFi). Blockchain facilitates peer-to-peer transactions, lending, and borrowing without the need for traditional financial intermediaries. This democratization of finance not only provides financial services to the unbanked but also creates a more inclusive and accessible global economy.
Smart contracts, powered by blockchain technology, are programmable contracts that automatically execute predefined actions when specific conditions are met. This feature has profound implications across industries, from automating legal processes to expediting complex business agreements. The self-executing nature of smart contracts reduces the risk of human error, streamlining workflows and increasing efficiency.
Blockchain facilitates the tokenization of assets, representing ownership of physical or digital items on the blockchain. This ranges from real estate and art to intellectual property and
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Avalanche gets the ‘Ordinals’ bump, sets new transaction record – Blockworks
A new brand of crypto collectibles similar to Bitcoin Ordinals has apparently hit Avalanche, and its responsible for more than 95% of its daily on-chain transactions.
The transaction count on Avalanches C-Chain (responsible for handling smart contracts) over the past week has set new all-time highs, reaching an estimated 2.3 million transactions per day on November 19. Avalanche has historically seen around 450 thousand per day on average.
Like Bitcoin Ordinals, Avalanches ASC-20 tokens use inscription to put information onto a blockchain, Jacob Everly, a technical product manager at Ava Lab, told Blockworks.
Bitcoin Ordinals involves assigning numbers to Satoshis (sats), which are stored in the witness portion of the Bitcoin transaction. With ASC-20s, the user transcribes information within the Call-Data of a transaction so that information is stored on-chain for a reduced cost compared to the ERC-20 token standard, Everly said, referring to Ethereum-based tokens.
The surge in ASC-20s led to the Avalanche Primary Network, which consists of over ~1500 consensus-participating validators, to average 40-plus transactions per second and even approach 100 per second at some moments, Everly noted.
The block time-to-finality has, however, held firm at roughly one second, Everly added. Average gas price hovered around 80 nAVAX, resulting in a rough average cost of $0.05 per ASC-20 transaction, he said.
According to Blockworks Research analyst Dan Smith, there have been over 6.8 million transactions that have interacted with ASC-20 tokens so far.
Still, it appears too early for ASC-20s to be actively traded, as there doesnt seem to be any specialized marketplaces as yet (theres also no handy portal to view what has been minted). The number of individual users responsible for all the transactions is also unclear.
Despite the significant jump in transaction count, daily average transaction fees and unique active addresses remain unchanged, Blockworks Research data shows.
In any case, Avalanche is not the only network aside from Bitcoin seeing activity spikes due to inscription minting.
Polygons PoS chain also saw similar activity last week , and just like Avalanche, transaction fees and daily unique addresses have remained relatively stable so far.
Litecoin and Dogecoin also had their turn earlier this year.
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Avalanche gets the 'Ordinals' bump, sets new transaction record - Blockworks
Web3 Identity: Why You Can’t Get a Crypto Job – Medium
Research involving 1,000 diverse web3 employers and job-seekers proves the importance of having a verified track record.
Hint: Its not about your college degree but the people youve worked with.
Our team of researchers have crunched the numbers to explain why you cant land that dream job in crypto: Your Web3 Reputation, aka the people youve worked with, often overshadowed by industry hype, turns out to be most important.
We surveyed web3 freelancers and employers across various levels about the challanges they face in finding clients and employees.
During the bull market, trust and proper background checks are often overlooked, only to grow into a much more complex issue when the market cools down. Previous research shows that 4 out of 10 market participants in crypto have been involved in a rug directly or passively. This takes into account both, being a team member of a project that ultimately deviates and goes rogue, or being personally invlvoled in stealing the funds.
Thats like living in a neighbourhood where almost half of the residents are involved in car theft.
Dont be surprised to hear that employers are cautious. In most job cases its not about talent discovery but rather verification: can I trust this person is a full-stack developer? LinkedIn CVs and Github repositories can be easily altered. In reality, a significant number of developers often repurpose code from agencies, where theyve worked with other developers, to present it as a testament to their own accomplishments.
What all problems have in common? On-chain verification. In crypto, theres no user-friendly way to validate on-chain experience like smart contracts youve deployed, wallet transactions and people youve worked with a problem Web3me has already solved.
Source: https://twitter.com/Web3meID
Web3me is a Dynamic NFT identity tool that helps you prove anything on-chain. Imagine Linktree, but with web3 stats.
After using first-principles thinking to break down the 3 main problems we immediately stumble upon a pattern here. Your wallet history a.k.a, transactions, signatures and smart contracts, when verified, can replace traditional CVs and serve as proof of experience for web3.
Web3me proposes a new way for proof of work. Signed recommendations.
The idea is that clients/employers can sign a recommendation that is automatically displayed on your Web3me profile. Verified by their wallet address. Your Web3me profile can be added in your bio just like Linktree but with more than just socials and content. You can verify and display the people youve worked with, transactions, smart contracts and much more. ~ Founder of Web3me @luboweb3
Source: https://twitter.com/NosoiMBC
Source: https://twitter.com/jbondwagon
Source: https://x.com/iamchillpill/status/1724410038867882133?s=20
..and much more
Your Web3me is a Dynamic Soulbound NFT minted in your wallet on Polygon. We cover the gas fees for you.
Every piece of information you add is a property of this NFT. It can integrated as login option into any dapp. Furthermore your profile is updated based on the activity of the wallet(s) you connect. No manual changes for your crypto portfolio needed.
We use blockchain technology to provide users with:
Getting exposure on your CV should be as easy as redirecting page views to your Linktree...This is where @Web3meID steps in. ~ @christieweb3
Were not building another job platform, but rather an individualised profile that helps users prove their true worth to their audiences. A profile that you can integrate into Dapps and use it as link in your X bio. The main problem with web3 identity tools is that they offer creator features that are undistinguishable from what Linktree already pioneered in the market.
Its easy to put a brand name in your X bio and add the handle on your Linktree or Sidexyz. However employers dont neccasarily care only about your current position in comparisson to what youve done in the past and what others youve worked with might have to say about you. In fact, you can easily add false information in your Sidexyz or Linktree because all you do is paste links. Theres no backbone that verifies whether this information correlates with your previous claim.
For example: You cant copy paste a smart contract from Etherscan and add it in your Web3me. Unless its from a wallet that you have already connected and proven ownership of.
The goal is simple. Build a web3 identity profile that is impossible to alter with false information by the author.
Source: https://web3meid.com/lubo
Besides allowing you to prove your entire wallet history. Web3me helps creators showcase their work in their own unique way. In the upcoming beta version we will release a series new features like analytics and web3-specific creator tooling that are designed to help you monetise your existing audience.
Our mission is to serve the underserved. The reason why its so hard to land a job in crypto is verification and trust. Traditional CVs are go-to-destination for scammers and can be easily altered. Over a million people have already worked in crypto and the best they can do today is paste the company name on LinkedIn as proof. Giving the opportunity to employers and job-seekers to sign recommendations with their wallets and additionally verify blockchain experience at scale will bring immense value to the entire ecosystem. We go as far to believe that your Web3me will be the on only identity youll ever need.
The goal of this article is to introduce you to the basic mechanics of Web3me without revealing too much. Everything mentioned in this article is already possible in the current alpha version of the product which only Netizens holders can access.
We plan to launch the public beta with a set of more advanced features in December 2023.
Drop by to say hi. Web3me is being shaped with the feedback of our Netizens community. Join us now.
Have a question in mind or partnership proposal? Dont hesitate to contact us directly. (We always respond)
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Check Point Research Unraveling the Rug Pull: a Million-Dollar … – Check Point Research
By Oded Vanunu, Dikla Barda, Roman Zaikin
In the dynamic realm of cryptocurrency, recent events have highlighted the ever-present threat of Rug Pullsdeceptive maneuvers that leave investors empty-handed. Our Threat Intel Blockchain system, developed by Check Point, recently sounded the alarm on a sophisticated scheme that managed to pilfer nearly $1 million. Lets delve into the details of this elaborate crypto con and understand how it unfolded.
Check Points Threat Intel blockchain system identified and alerted the following address 0x6b140e79db4d9bbd80e5b688f42d1fcf8ef97798
This address involves in blacklisted activities, our system has begun monitoring the activities associated with the wallet address:
This is the balance of the scammers wallet (15/11/23), This address operated 40 distinctrug pulls and has been stolen almost 1 million dollars!
The scammer (0x6b140e79db4d9bbd80e5b688f42d1fcf8ef97798) tactic is to create tokens based on the latest hypes to lure victims to buy his tokens, for example, the token name GROK 2.0 (0xd4b726c5b5e6f63d16a2050ee3ac4a0f0f81f1d4), possibly derived from a well-known AI system (X GROK), is intended to attract buyers.
The Anatomy of the Scam:
How did this elaborate scam work, and how did it manage to siphon off a substantial sum? Heres a breakdown:
The scammer used 2 different smart contracts to trade and pump the token volume. The first contract address he used is 0x2ef3216e95e2b7c8e378ae64534100e69598f955 which contained the simulated trading function (0x521da65d).
function 0x521da65d
The function 0x521da65d is responsible for selling and buying the token for the scammer, this function has been executed 226 times for just this token. The functions behavior is contingent on the Boolean varg7, which dictates its course, leading to two separate execution routes.
The first route (0x306b) is swapping from WETH cryptocurrency to GROK 2.0 (buying)
As you can see in this image:
And the 2nd route (0x2bac) represents swapping from GROK 2.0 to WETH (selling)
For the second smart contract, the scammer operated using the address 0x4b2a0290e41623fbfeb5f6a0ea52dc261b65e29b, where he executed the function 0xf029e7cf to artificially boost the tokens volume.
function 0xf029e7cf
This function receives five parameters:
decoding the following data sent to this function unveil the following arguments:
Varg0 is the Uniswap router address that the scammer will use to swap the tokens.
Varg1 is the WETH cryptocurrency address, which will be used to swap against the GROK token.
Varg2 is the GROK 2.0 token address.
Varg3 is the amount of the token to swap.
Varg4 is the number of times to swap this token.
Looking deeper into the function we revealed the scammer used the function swapExcatToekensSupportingFeeOnTransferTokens from Uniswap Router (varg0) to swap 9 times (varg4) from WETH(varg1) to GROK(varg2) and from GROK to WETH with a total amount of $ 420,000 which pumps the volume of the token and lures traders and bots to buy it.
The swaps loop can be seen in the following screenshot:
In the scams final phase, the scammer withdrew funds from the tokens liquidity pool after attracting a sufficient number of buyers and the token price increase. This is demonstrated by the fact that they removed liquidity from their deceptive tokens on 81 occasions.
Conclusion:
As the crypto landscape continues to evolve, staying vigilant and informed is paramount for investors. The recent Rug Pull incident serves as a stark reminder of the need for heightened awareness and due diligence. By understanding the tactics employed by scammers, we can collectively work towards creating a safer and more secure crypto environment.
Its crucial to note that our commitment to safeguarding the crypto community extends beyond mere detection. Check Point researchers are actively monitoring domains associated with the identified scammers wallet address and similar. The Threat Intel Blockchain system, developed by Check Point, continues to accumulate valuable information on emerging threats, and this intelligence will be shared in the coming future. In this collaborative effort, we aim to empower investors with the knowledge needed to navigate the crypto space securely and protect themselves from potential pitfalls. For more information contact us at: [emailprotected]
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Check Point Research Unraveling the Rug Pull: a Million-Dollar ... - Check Point Research
JPMorgan Chase, Siemens, and FedEx show that blockchain finance is more than a buzzword – Fortune
Innovation is a funny thing. It often arrives with an excess of hype and then fades into disappointmentbefore reemerging in full bloom. A case in point is JPMorgan Chases JPM Coin, a corporate stablecoin launched shortly after the 2017 crypto bubble that seemed doomed to languish as a proof of concept that would never catch on in the real world.
In recent weeks however, the story around JPM Coin has changed dramatically as the bank announced that it is notching daily transaction volumes above $1 billion and that its big corporate clients are finally tapping into the coins promise to provide programmable money.
If youre unfamiliar with JPM Coin, its a digital dollar that the bank created on a private version of the Ethereum blockchain. This means that clients with access to the coin (or ones like it) can enjoy the benefits of crypto technologyincluding 24/7 transactions and smart contractswithin a secure corporate environment. Well, thats how its supposed to work in theory.
In reality, the past six years have been marked by a series of announcements involving banks and companies saying theyve carried out a blockchain transactioninvolving dollars or equities or commoditiesand thats been the end of the matter. While the transactions did occur, they didnt really matter since they were mostly one-off events that didnt lead to any changes in day-to-day commerce.
This has quietly begun to change, however, as companies have moved past the PR phase of blockchain and started tapping into its actual benefits. I spoke with Naveen Mallela, the head of coin systems (yes, thats a title) at JPMorgan Chasess Onyx unit, and he explained that the likes of Siemens, Cargill, and FedEx are all using these tools in daily operations.
Mallela told me that customers are viewing JPM Coin less as a stablecoin than as a tool to manage commercial deposits and take advantage of programmable money. I pushed him on that, asking what exactly he means by programmable. He explained that it means creating automated instructions for funds you control. A primitive illustration is autopay for bills but, thanks to blockchain, companies can now carry out far more sophisticated operations.
Mallela gave three persuasive examples of programmable money in action: companies using blockchain to carry out cash sweeps that used to happen once a day, but that can now occur anytime; finance firms using smart contracts to monitor and address margin calls for securities; and companies arranging for shipping payments to be released at various stages of a voyage.
By relying on smart contracts to handle these operations, companies can deploy cash and staffing resources more efficiently. And this is likely only the beginning. Mallela notes that IFTTT (if this, then that) instructions are becoming commonplace in the corporate blockchain environment and that companies will find more and more ways to use them.
Meanwhile, programmable money is sprouting up in the investment sector as wellJPMorgan Chase and Apollo just launched tokenized funds in Singapore, while a startup called Superstate, founded by the creator of the popular DeFi protocol Compound, just raised $14 million to do the same in the U.S. All of this shows that while blockchain-based finance is still far from mainstream, it has quietly taken a giant leap forward.
Jeff John Robertsjeff.roberts@fortune.com@jeffjohnroberts
Binance is launching a new crypto exchange in Thailand alongside Gulf Energy, a giant conglomerate run by the countrys second-richest man. (Bloomberg)
Paxos is launching a new USD-pegged stablecoin in Singapore after becoming the second company to obtain a key approval from the countrys Monetary Authority. (The Block)
The SEC deferred on two more crypto ETF applications, including Grayscales bid to launch one for ETH futures, though many predict approvals in January. (Bloomberg)
Arks Cathie Wood plugged Solana on TV, helping to push the altcoins price to three times what it was in January. (CNBC)
Bitcoin soared 6%, wiping out losses from earlier this week and returning the currency to just under $38,000. (Coindesk)
Gary + Liz foreva:
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JPMorgan Chase, Siemens, and FedEx show that blockchain finance is more than a buzzword - Fortune
Brief Introduction to Blockchain Security Audits – LCX
Moreover, audits must be ongoing because code is frequently updated or forked, rendering solitary audits inadequate for long-term security. In addition, there is the difficulty of ensuring that the deployed code is the audited code and not something else. This highlights the importance of both transparency and provenance in the deployment process, as well as the need for a broader, code-auditing-free approach to security.
Vulnerability Mitigation: In the decentralized realm of blockchain, vulnerabilities can have far-reaching consequences. Security audits enable the identification and resolution of these vulnerabilities, preventing potential breaches and unauthorized access.
Regulatory Compliance: With increased attention from regulatory bodies, adherence to security standards is crucial. Blockchain security audits help ensure compliance with regulatory guidelines, fostering a more transparent and legally compliant environment.
Investor and User Confidence: Robust security measures bolster user trust and investor confidence. By demonstrating a commitment to security through audits, projects can attract more users and investments.
Smart Contract Integrity: Blockchain applications heavily rely on smart contracts. Audits detect vulnerabilities in these self-executing contracts, reducing the risk of exploits like the infamous DAO hack.
Code Review: A thorough examination of the source code is conducted to identify coding errors, vulnerabilities, and logical flaws. This involves analyzing the codebase for potential exploits and ensuring adherence to best practices.
Penetration Testing: Also known as ethical hacking, penetration testing simulates real-world attacks to uncover vulnerabilities. This method helps assess the resilience of the system against potential threats.
Architecture Analysis: This involves scrutinizing the overall system architecture to detect design flaws that might be leveraged by attackers. Ensuring proper separation of concerns, data integrity, and network security are key aspects of this analysis.
Threat Modeling: By anticipating potential threats and attack vectors, threat modeling guides the auditing process. It helps auditors prioritize their efforts and focus on the most critical security aspects.
Network Assessment: Auditors evaluate network components, such as nodes and communication channels, to ensure encryption, data integrity, and resistance against network-based attacks.
Preparation: Define the scope of the audit, identify the assets to be audited (smart contracts, nodes, applications), and gather relevant documentation.
Code Analysis: Examine the source code for vulnerabilities like input validation issues, incorrect data handling, and unauthorized access points.
Threat Modeling: Map out potential threats and attack vectors specific to the blockchain ecosystem being audited.
Penetration Testing: Simulate attacks to evaluate the systems response and identify potential weaknesses that might not be evident through code analysis alone.
Smart Contract Assessment: Review the logic and functionality of smart contracts to ensure they operate as intended and cant be manipulated.
Architecture Review: Analyze the systems architecture for design flaws that could lead to vulnerabilities or compromises.
Documentation Review: Verify that security measures and processes are well-documented and easily understandable.
Reporting: Compile findings, vulnerabilities, and recommendations into a comprehensive report for stakeholders. Provide actionable steps to address the identified issues.
Blockchain security audits play a pivotal role in maintaining the integrity and security of blockchain ecosystems. In an era where data breaches and cyberattacks are increasingly common, these audits offer a proactive approach to identifying and mitigating vulnerabilities before they are exploited. Through methodologies like code analysis, penetration testing, and architecture review, security experts ensure that blockchain systems remain resilient, compliant, and trustworthy. As the world continues to embrace blockchain technology across sectors, prioritizing security through thorough audits will be crucial to realizing the full potential of decentralized systems while safeguarding user data and investments.
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Bitcoin leads NFT market with surge in BRC-20 token sales By … – Investing.com
Investing.com|EditorHari G
Published Nov 21, 2023 11:02AM ET
In the latest developments within the cryptocurrency sector, Bitcoin has taken a significant lead over Ethereum in the non-fungible token (NFT) market. Data from CryptoSlam indicates that Bitcoin's NFT sales volumes have reached $16.94 million in just one day, contributing to a weekly total of $177 million, marking an 88% increase. This surge is attributed to the growing popularity of SATS BRC-20 NFTs, which are currently the most sought-after collections on the Bitcoin network.
The resurgence in Bitcoin's NFT market is largely due to the success of the Ordinals protocol, as reported by Dune analytics. The protocol has seen more than 5.6 million inscriptions this November alone, suggesting a robust revival from what was previously termed as an NFT winter. This increase in activity has also been reflected in transaction fees, where Bitcoin has outpaced Ethereum. According to Glassnode statistics from Monday, Bitcoin's average transaction fee stood at $10.35, surpassing Ethereums $8.43. This indicates a significant uptick in network activity and interest in Bitcoin-based NFTs and smart contracts functionality.
Furthermore, Bitcoin's dominance in the NFT market is evident from its monthly sales figures, which amounted to $312 million against Ethereum's $304 million. Notably, BRC-20 NFTs have topped the sales volume ranking with $83 million in transactions on Tuesday, overshadowing other prominent collections such as the Bored Ape Yacht Club, which reported $42 million in sales. The buyer base for BRC-20 NFTs has expanded by 398%, showcasing a rapidly growing interest among collectors and investors.
These trends underscore a shifting landscape within the cryptocurrency markets, where Bitcoin is not only seen as a store of value or medium of exchange but is also gaining traction in the burgeoning NFT space a realm that was predominantly led by Ethereum due to its early adoption of smart contracts and support for various digital assets and applications. The increased earnings for miners due to higher transaction fees further highlight the positive impact of this shift on various stakeholders within the Bitcoin ecosystem.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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Bitcoin leads NFT market with surge in BRC-20 token sales By ... - Investing.com
The Top 10 Crypto Projects That Are Making a Difference – Baltic Times
Introduction
In the ever-evolving world of cryptocurrencies, innovation, and impact go hand in hand. From reshaping financial landscapes to revolutionizing industries, various crypto projects are standing out for their contributions. Let's delve into the top 10 crypto projects that are truly making a difference. For a better trading experience, you may consider using a reliable trading platform like Immediate Flik.
Decentraland: Pioneering Virtual Real Estate
Decentraland is redefining the concept of virtual reality by creating a decentralized metaverse where users can buy, sell, and develop virtual land. By combining blockchain technology and virtual reality, Decentraland opens up endless possibilities for immersive experiences and creative expression.
Ethereum: Smart Contracts and Beyond
Ethereum isn't just a cryptocurrency; it's a platform that introduced the concept of smart contracts. These self-executing contracts have the potential to transform industries like finance, real estate, and supply chain management. Ethereum's continuous upgrades, like Ethereum 2.0, promise to enhance scalability and sustainability.
Revolutionizing Online Trading
It empowers both beginners and experienced traders to navigate the crypto market effectively. With its innovative features, the platform is contributing to the accessibility and mainstream adoption of cryptocurrencies.
Chainlink: Bridging Blockchains and Real-World Data
Chainlink is tackling a crucial challenge in the blockchain ecosystemconnecting smart contracts with real-world data. Its decentralized oracle network ensures that smart contracts can access accurate and timely information, enabling applications in areas like finance, insurance, and supply chain management.
Polkadot: The Interoperability Enabler
Polkadot aims to solve the interoperability problem in the blockchain space. Its unique architecture allows different blockchains to connect and share information securely. This interoperability opens up opportunities for collaboration and the development of specialized blockchains that can seamlessly communicate with each other.
Aave: Transforming Lending and Borrowing
Aave is disrupting traditional lending and borrowing systems by creating a decentralized lending protocol. Users can lend their cryptocurrencies and earn interest while borrowers can access funds without the need for traditional financial intermediaries. Aave's "Flash Loans" feature enables instant and collateral-free loans, adding an extra layer of innovation.
Cardano: Advancing Blockchain Research
Cardano stands out for its rigorous research-driven approach to blockchain development. The project focuses on scalability, sustainability, and interoperability. With its peer-reviewed academic research, Cardano aims to bring about positive changes in various sectors, particularly in regions with limited access to financial services.
VeChain: Enhancing Supply Chain Transparency
VeChain utilizes blockchain to improve transparency and traceability in supply chains. By assigning unique identifiers to physical products, VeChain enables consumers and businesses to track the entire lifecycle of products, from raw materials to the end consumer. This technology has applications in sectors such as luxury goods, agriculture, and pharmaceuticals.
Solana: High-Performance Blockchain
Solana addresses the scalability challenge that many blockchain platforms face. Its high-performance architecture can handle thousands of transactions per second, making it suitable for decentralized applications that require fast and efficient processing. Solana's speed and low fees have garnered attention from DeFi projects and other crypto ventures.
Filecoin: Decentralized File Storage
Filecoin is transforming cloud storage by creating a decentralized network where users can buy and sell unused storage space. This peer-to-peer marketplace incentivizes users to contribute their storage resources and earn Filecoin tokens in return. It presents a more secure and efficient way of storing and accessing digital data.
Empowering Financial Inclusion: Stellar's Mission
Stellar is dedicated to promoting financial inclusion and access to affordable financial services globally. By enabling the seamless transfer of assets, including both traditional currencies and cryptocurrencies, Stellar aims to bridge the gap between the unbanked and the global economy. Its partnership with various financial institutions and organizations demonstrates its commitment to creating a more equitable and accessible financial ecosystem. Through its innovative technology and partnerships, Stellar is working to empower individuals who have been traditionally underserved by traditional financial systems, aligning with the broader goal of democratizing financial services.
Conclusion
In conclusion, the crypto landscape is vibrant with projects that are shaping the future of technology and finance. From virtual reality experiences to decentralized finance platforms, these projects are pushing the boundaries of innovation. As these projects continue to evolve and grow, they hold the potential to create a lasting impact on industries and societies worldwide.
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The Top 10 Crypto Projects That Are Making a Difference - Baltic Times
"NFT DApps: Redefining Digital Asset Ownership in the Blockchain … – Geeks World Wide
NFT DApps, powered by blockchain technology, have revolutionized the way we perceive, create, and exchange digital assets. Non-fungible tokens (NFTs) are unique digital tokens that represent ownership or proof of authenticity for a specific digital or physical asset. NFT DApps leverage smart contracts, decentralized storage, token standards, wallet integration, and marketplace integration to create transparent and secure ecosystems for owning and trading digital assets. Use cases for NFT DApps include digital art and collectibles, gaming and virtual assets, music and intellectual property, real estate and virtual land ownership, and collectibles and memorabilia.
In the ever-evolving landscape of blockchain technology, Non-Fungible Tokens (NFTs) have emerged as a groundbreaking concept, providing a way to represent ownership of unique digital assets on a decentralized network. Decentralized Applications (DApps), powered by blockchain, have become a key facilitator of NFT ecosystems. NFT DApps combine the principles of decentralization, immutability, and ownership tracking to revolutionize the way we perceive, create, and exchange digital assets.
Non-fungible tokens are unique digital tokens that represent ownership or proof of authenticity for a specific digital or physical asset. Unlike cryptocurrencies such as Bitcoin or Ethereum, which are fungible and interchangeable, each NFT has a distinct value and cannot be replaced on a one-to-one basis. NFTs leverage blockchain technology, typically operating on platforms like Ethereum, Binance Smart Chain, or others, to ensure transparency and security in ownership.
Smart contracts play a crucial role in NFT DApps by automating the creation, transfer, and management of NFTs. They define the rules for NFTs, including how they are created, transferred, and what actions can be performed with them, ensuring transparency and eliminating the need for intermediaries.
NFT DApps often leverage decentralized storage solutions to store the digital assets linked to NFTs. This enhances security and resilience by ensuring that the actual files associated with NFTs are not stored in a centralized location. Protocols like InterPlanetary File System (IPFS) or decentralized cloud storage are commonly used for decentralized storage.
Token standards define the rules and functionalities of NFTs on a particular blockchain. Common standards for NFTs on the Ethereum blockchain include ERC-721 and ERC-1155. These standards ensure interoperability between different NFT DApps and wallets.
Wallets serve as the interface between users and their NFTs in NFT DApps. Users need a digital wallet that supports the specific blockchain and NFT standards used by a DApp. Wallets allow users to view, transfer, and manage their NFTs, as well as facilitate transactions on NFT marketplaces and DApps.
NFT marketplaces are platforms within NFT DApps where users can buy, sell, and trade NFTs. These marketplaces are often decentralized, allowing peer-to-peer transactions without intermediaries. NFT marketplaces provide a user-friendly environment for discovering, buying, and selling NFTs, and typically
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Blockchain-Ads Goes Live on Partisia Blockchain, Redefining Digital … – Newswire
ZUG, Switzerland, November 21, 2023 (Newswire.com) - Blockchain-Ads, the trailblazing solution for Web3 brands seeking to connect with their ideal audiences, is set to make history as the first-ever advertising platform to go live on Partisia Blockchains revolutionary blockchain. This partnership is poised to reshape the advertising industry, offering unprecedented opportunities for Web3 brands to reach their target audiences efficiently, effectively, and with uncompromising privacy.
The Web3 landscape has faced a longstanding challenge: the struggle to engage with their desired customer base. Traditional advertising networks have often imposed restrictions on crypto-related promotions, leaving many brands underserved. Furthermore, existing crypto ad networks have failed to deliver the crucial capability of targeting users based on their on-chain behavior until now.
Brian Gallagher, Co-Founder of Partisia Blockchain, says: I have always been passionate about user-centric ads, even holding US patents for blockchain-based targeted advertising. My co-founders and I built Partisia Blockchain to bring this vision and capabilities to the market; disrupting the data economy as we know it today. Seeing Blockchain-Ads launch on Partisia Blockchain is both a technical milestone and a realization of our co-founders personal mission to put users first in digital advertising and the data economy.
Blockchain-Ads, in close collaboration with Partisia Blockchain, has leveraged the innovative MPC and ZK technologies to create a secure, privacy-preserving, and cost-effective solution. This approach ensures that user data is processed securely while facilitating highly targeted advertising campaigns. It represents a monumental shift in digital advertising, preserving user privacy without compromising the integrity of user data.
Following a successful testnet launch in May, Blockchain-Ads launched Partisia smart contracts on the mainnet on 1 November 2023. This milestone marks the formal introduction of Blockchain-Ads to the digital advertising arena, offering a truly decentralized alternative to the conventional, centralized advertising industry.
Blockchain-Ads based on third party analytics is outperforming competitors tenfold in efficiency and effectiveness, offering Web3 brands a unique opportunity to achieve their advertising goals. With this revolutionary platform, brands can expect superior targeting capabilities that are unparalleled in the market.
Vlad Chejkov, Founder of Blockchain-Ads, says: Our mission is crystal clear: to disrupt the conventional advertising industry and usher in a new era of decentralized, privacy-preserving, and cost-effective advertising. We are committed to redefining privacy and user control in the digital advertising landscape, with a solution specifically tailored to the needs of Web3 brands.
Blockchain-Ads invites the world to witness the future of digital advertising on Partisia Blockchains blockchain, where privacy, efficiency, and effectiveness converge like never before.
Source: Partisia Blockchain
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Blockchain-Ads Goes Live on Partisia Blockchain, Redefining Digital ... - Newswire