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Warp Protocol deploys on Neutron as a decentralized automation protocol, empowering developers to create novel DeFi application experiences and reduce in-house costs.

SINGAPORE, Aug. 29, 2023 /PRNewswire/ -- In an exciting continuation of its cross-chain expansion plans, Terraform Labs PTE Ltd. ("TFL") announced Warp Protocol's launch on Neutron today. A powerful automation application designed by TFL, Warp enables developers to create innovative DeFi features and experiences that expand their user base by leveraging resource-efficient, decentralized automation.

Terra

"For developers, the appeal is straightforward," says TFL's Head of Apps Vlad Jidkov. "By allowing developers to integrate features that queue any transaction, or atomic list of transactions, to be executed in the future based on any available on-chain data, developers can create novel DeFi experiences that attract new users, reduce in-house automation and DevOps costs, and increase scalability."

Transactions within the Warp economy are called 'jobs,' and the circumstances under which they become executable are called 'conditions'. When conditions are met, anyone running a Warp keeper bot can execute the job in exchange for that job's reward (paid in the chain's native token). Warp thus creates a decentralized marketplace for transaction execution, connecting job creators with job executors once conditions have been met.

Neutron stands tall as a permissionless Cosmos smart contract platform secured by the Cosmos Hub, aiming to revolutionize interchain DeFi by facilitating the seamless deployment of smart contracts and providing tools to interoperate between protocols and appchains. With today's launch, Warp is bringing its limitless on-chain automation capabilities to developers and users across the Neutron ecosystem. Developers can seamlessly integrate Warp functionality into their front or backend in just a few lines of code using Warp's advanced SDKor experiment on the web app.

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Warp's flexible design, including custom conditions, generic messages, and recurring jobs, has the potential to unlock a myriad of DeFi experiences for Neutron users. Conceivable use cases include dynamic NFTs, yield-generating limit orders that earn yield while resting, and automated liquidity management. Warp's debut feature on Neutron will be Astroport limit orders. Compared to market orders that execute at current token prices, limit orders allow users to place buy or sell orders above or below current prices, providing better trade execution.

"Warp allows developers to tap into a decentralized network of keeper bots and bring their ideas to life in the form of new platform features for users," concluded Jidkov. "We designed Warp to capture the full potential of a developer's imagination, so when it comes to the experiences Warp can enable, the sky's the limit."

About Terraform Labs

Established in 2018 and based in Singapore, Terraform Labs (TFL) is a leading software development company specializing in blockchain technology. Powered by a globally distributed workforce of experienced Web3 developers and crypto natives, TFL is one of the few companies to have developed an end-to-end Web3 experience, inclusive of a blockchain, wallet, block explorer, RPC solution, set of apps, and a suite of developer tools. Aiming to enable the next evolution of the Internet built on robust, decentralized economies, TFL serves as a core contributor to the Terra blockchain and is the creator of products and tools such asAlliance, Warp, andEnterprise.

About Warp Protocol

Warp is a decentralized automation protocol that enables developers to integrate cutting-edge new features into their platforms using decentralized, cost-efficient automation. Using Warp, developers (and their users) can schedule transactions for future execution, drawing from any available on-chain data. The transactions are called 'jobs', and the circumstances under which they become executable are called 'conditions'. When conditions are met, a job can be executed by anyone running a Warp keeper bot in exchange for that job's reward (paid in the chain's native token). Limited only by the developer's imagination, Warp's flexible design (including custom conditions, recurring jobs, atomic-list jobs, and generic messages) unlocks numerous use cases, including dynamic NFTs, automated liquidity management, automated trading strategies, efficient stakeholder reward systems, streamlined fund migration, and much more.Website| Docs| Twitter

About Neutron

Neutron is the most secure cross-chain smart-contracting platform. It combines the security of a top 10 blockchain by staked capitalization with bleeding-edge cross-chain infrastructure to enable DeFi applications to securely scale across a growing network of 51+ interconnected blockchains.Website| Twitter | Telegram

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Warp Protocol Launches on Neutron, Introducing Limitless Automation Capabilities to Neutron Developers - Yahoo Finance

Non-fungible tokens (NFTs) have made major inroads in the market offering a very wide range of utility across different industry sectors. One such industry where NFTs are gaining prominence is the betting industry. One of the major lacunas for the betting industry is a lack of trust and transparency. Using blockchain-based NFTs can help in filling these gaps.

A new patent talks about betting with NFTs while using IOTAs Tangletech. The innovation pertains to a computerized system designed to utilize supplied data records related to betting for secure manipulation and privacy-preserving facilitation of bets among both known and unknown users. This is achieved through the utilization of a distributed, decentralized database.

Betting systems aka betting platforms operate on the premise that a betting provider offers various bets and outlines their details. Drawbacks of this betting approach include the charges imposed by the betting agent and the inflexible betting conditions mandated by the betting provider.

Decentralized betting platforms address these issues but give rise to additional challenges due to the inherent blockchain architecture. The Ethereum blockchains current capacity is limited to approximately 15 transactions per second, severely constraining its scalability. Consequently, activities such as live betting that demand swift participation become impractical. Furthermore, the blockchains transaction fees hinder the viable resolution of bets with stakes lower than the fees themselves, as such fees would outweigh potential betting gains.

The present invention seeks to overcome these aforementioned challenges by establishing a decentralized betting platform that ensures scalability and allows users to freely determine fees for executing essential Smart Contracts (SC).

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IOTAs architecture comprises two tiers: the base layer (L1) is the Tangle, a toll-free data structure formed by connections between transactions across nodes. Unlike traditional blockchains with one-directional growth, the Tangle allows growth in any direction, enhancing transaction throughput. Each new transaction verifies up to seven parent transactions its attached to.

Multiple nodes with consensus will later verify smart contracts like transactions. IOTAs architecture also adds a second layer (L2) to address challenges in managing smart contracts on the Tangle. L2 features unidirectional blockchains ensuring a global objective state. Smart contracts execute on Wasp Nodes, forming committees to find consensus, and L2 blockchain status is synchronized with an L1 account.

IOTAs multi-asset ledger extends the Tangle into various tokens or assets within L1, including custom currencies and NFTs. This is distinct from single-currency blockchain counterparts. NFTs are a unique output type, providing owners full control over trade and deletion. The NFT assets will consist of the following parts.

The IOTA architecture, designed as a DAG with parallel layers, effectively addresses the scalability and fee structure challenges. This innovation also offers a scalable system with the added advantage of fee-free smart contracts.

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

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Patent: IOTA Tangle Tech Can Play Crucial role In NFT Betting - Crypto News Flash

was one of the most prominent abstract painters, renowned for his iconic color field paintings, which featured captivating irregular rectangles of color.AFP via Getty Images

A traditional EthereumETH wallet is called an Externally Owned Account (EOA) and it is what you use with MetaMask for example. As a result, your Ethereum account is uniquely derived from the cryptographic key pair that signs on its behalf.

Account Abstraction (AA) is the process of separating signing keys from the accounts for which they sign. Developers can use this separation to shape their UX and abstract technical details from the user by abstracting accounts from the signing keys.

The path to mainstream adoption requires a significant user-friendliness leap, and this is where AA steps in, aiming to streamline the user experience for decentralized applications (dApps), eliminating the complexities that often deter newcomers.

There have been several attempts at implementing AA in the past, such as EIP-86 and EIP-2938, but these required consensus layer changes ("hard forks") which made them impractical to implement. However, the ERC-4337 standard offers a new approach that doesn't require consensus layer changes, allowing developers to start building today.

"In traditional blockchain systems, most users have an EOA as their default account, which is inherently intertwined with their private key. EOAs require a good understanding of how a blockchain works to be used safely, which hinders mainstream adoption," told me in an interview Tom Teman, AA Product Manager at Ethereum Foundation. "AA allows users to use smart contracts as their accounts, providing a better user experience. They decouple the account from the private keys, which allows the use of arbitrary verification logic, such as multi-sig verification, and enable sponsored transactions, where users can pay transaction fees in ERC-20 tokens or have them sponsored by any third party. They also provide enhanced security features, such as various account recovery methods and time-locks, and enable atomic multi-operations, which allow users to complete multiple operations with a single transaction".

Friend.tech, a pioneering social network in the Web3 space, is a prime example of how AA can simplify onboarding. Instead of requiring users to navigate wallet integration, friend.tech employs a novel authentication method. Users can authenticate via SMS, GoogleGOOG, or AppleAAPL, providing a familiar sign-in process. Behind the scenes, AA is at work, creating a self-custodial embedded wallet for each user. The recent effort of ERC-4337 to standardize an Ethereum model for creating on-chain accounts with a flexible signing system have enabled Privy, friend.tech's Web3 onboarding partner in this endeavor, to provide seamless wallet onboarding experiences using AA. This approach also emphasizes user data privacy - neither friend.tech nor Privy have access to users' private keys, which ensures users' crypto asset holdings remain secure, while still granting them full control and accessibility.

Friends.tech bridges the gap between blockchain users and mainstream users by focusing on a smooth onboarding process, and their numbers speak for themselves - according to their Twitter account, they have about 20,000 active daily users, with 75% returning after the second day, and 50% returning for the full week, and with an average daily active user using the dApp for 30 minutes.

On top of AA, the ability to use native tokens to pay transaction fees within the Web3 ecosystem is a pivotal development that enhances user experiences. Visa's approach, known as paymasters, is one compelling example of this. By using fiat money linked to their Visa cards, users can cover their on-chain gas fees using Ethereum's ERC-4337 standard. In this approach, a paymaster contract is a specialized smart contract account that sponsors gas fees for Contract Accounts, which are viewed as user-centric smart contracts. As a result of this solution, users do not need to possess native blockchain tokens or navigate token bridge processes just to cover gas fees.

For instance, envision Alex, a self-custodial wallet user, who wishes to participate in a DeFi project involving the minting of new tokens. With the proposed Visa Paymasters solution, Alex seamlessly utilizes her Visa card to cover gas fees. This process streamlines user interactions, allowing Alex to effortlessly select her Visa card as the means to cover gas fees, while the complex backend processes are taken care of by the Visa system.

Friend.tech and Visa are great examples of how AA can enable mainstream adoption, combining user-centered design with novel payment methods, ultimately improving blockchain transaction accessibility and usability.

I have been passionate about web3 and crypto since 2017, when I started my career in the industry as a Chief Growth Officer at Bits of Gold, a leading cryptocurrency brokerage service in Israel. Since then, I have gained five years of experience in various roles of strategy, business development, sales and marketing, working with global crypto platforms, such as eToro and Outlier Ventures.

Today, I am leading the crypto and web3 investments at Entre Capital, a prominent venture capital fund that backs early-stage startups in fintech, e-commerce, SaaS, and other sectors. I also mentor web3 startups for Outlier Ventures, a venture platform that supports innovative projects in crypto, DeFi, and NFTs. In addition, I am the editor in chief of Web3 Start-Up Nation, a weekly LinkedIn newsletter that covers the thriving web3 scene in Israel. My mission is to help entrepreneurs and investors navigate the opportunities and challenges of the web3 space, and to contribute to the growth and adoption of this transformative technology.

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Upgrading Web3 User Experience With Account Abstraction - Forbes

Introduction

The world of finance has undergone a significant transformation with the emergence of cryptocurrencies. Among the innovative applications of cryptocurrencies is the concept of crypto loans. These loans provide a bridge between the traditional financial system and the crypto ecosystem, offering users the ability to leverage their digital assets for various purposes. This article aims to provide a comprehensive overview of crypto loans, including their definition, functioning, benefits, risks, types, selection of providers, acquisition process, use cases, and future trends.

Crypto loans, also known as blockchain-based loans, are financial products that allow cryptocurrency holders to borrow funds by using their digital assets as collateral. Unlike traditional loans, crypto loans operate within the realm of decentralized finance (DeFi), leveraging smart contracts to automate the lending and borrowing process.

The process of obtaining a crypto loan involves a borrower depositing a certain amount of cryptocurrency as collateral into a smart contract. In return, they receive a loan in a stable coin or another cryptocurrency. The collateral remains locked in the smart contract until the borrower repays the loan with interest. Failure to repay could result in the lender liquidating the collateral to recover the funds.

Crypto loans offer a wide range of collateral options, allowing borrowers to access funds without selling their assets. This enables them to retain potential long-term value appreciation.

One of the most significant advantages of crypto loans is that they are often available without the need for traditional credit checks. Borrowers creditworthiness is determined by the value of their collateral, making these loans accessible to a broader range of individuals.

By not selling their cryptocurrency, borrowers can avoid triggering capital gains taxes. This is particularly advantageous for those seeking liquidity while minimizing tax liabilities.

The inherent volatility of cryptocurrencies poses a risk to both borrowers and lenders. If the collaterals value significantly drops, borrowers might face margin calls or even liquidation.

In cases of extreme price volatility, lenders might issue margin calls, requiring borrowers to either repay a portion of the loan or provide additional collateral. Failure to do so could lead to the liquidation of the collateral.

Collateralized loans are the most common type of crypto loans. Borrowers provide collateral and receive a loan in return. These loans have a lower risk for lenders due to the collateral, resulting in relatively lower interest rates.

Unsecured crypto loans do not require collateral, relying instead on the borrowers creditworthiness. However, these loans come with higher interest rates to compensate for the increased risk taken on by the lender.

Prospective borrowers should thoroughly compare interest rates and loan terms offered by different providers to ensure they are getting the best deal.

Selecting a reputable and secure crypto loan provider is crucial. Reading reviews, checking for any past security breaches, and assessing the platforms overall reputation can help make an informed choice.

Begin by researching and comparing various crypto loan providers to find one that aligns with your needs.

Submit an application to your chosen lender and follow their instructions for collateral locking. Once approved, the loan amount will be disbursed.

Ensure timely repayment of the loan according to the agreed-upon terms. Upon repayment, the locked collateral will be released from the smart contract.

Crypto loans allow investors to access funds without selling their valuable cryptocurrency holdings, thus maintaining exposure to potential price gains.

Crypto loans can be used strategically to manage tax liabilities. Borrowers can secure liquidity without triggering taxable events that result from selling their crypto assets.

As cryptocurrencies gain wider acceptance, the integration of crypto loans into traditional financial systems is a likely development, bridging the gap between the two worlds.

The evolving regulatory landscape will significantly impact the future of crypto loans. Striking a balance between innovation and compliance will be a crucial factor in shaping the sectors growth.

Crypto loans have introduced a novel way for cryptocurrency holders to leverage their assets while retaining ownership. With benefits such as flexible collateral options, accessibility, and tax efficiency, they have gained traction in the financial world. However, the risks associated with price volatility and liquidation cannot be overlooked. As the crypto space continues to evolve, crypto loans are poised to play a pivotal role in reshaping the lending and borrowing landscape, providing innovative solutions for individuals seeking financial flexibility within the crypto ecosystem.

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Exploring the World of Crypto Loans: Benefits, Risks, and Future ... - cryptonewsbytes.com

Security and Trust in Peer-to-Peer TransactionsDecentralizations Impact on Security

In the realm of peer-to-peer (P2P) transactions, security stands as a paramount concern. The very essence of P2P lies in its decentralized nature, where transactions occur directly between parties without intermediaries. This decentralization has profound implications for security. Traditional centralized systems carry a single point of failure risk, making them vulnerable to attacks. In contrast, P2P transactions distribute authority across the network, reducing the vulnerability to a single breach.

The absence of a central authority, however, requires robust security mechanisms at every node. Pioneering cryptographic techniques play a pivotal role in ensuring confidentiality, integrity, and authenticity. From the perspective of security, the decentralized nature of P2P transactions introduces a new paradigm, demanding continuous vigilance against evolving threats.

Cryptography emerges as the bedrock of trust in P2P transactions. It transforms sensitive information into an unreadable format during transmission, safeguarding it from prying eyes. Public and private keys form the cornerstone of cryptographic protocols. Public keys, openly shared, allow anyone to encrypt information, while private keys, kept confidential, enable decryption.

Cryptocurrencies, a prominent application of P2P transactions, rely on Blockchain technology, where cryptography secures transactions, prevents double-spending, and ensures immutability. Blockchains distributed ledger records each transaction across the network, with cryptographic hashing further enhancing security. This cryptographic synergy engenders trust in P2P transactions, making them tamper-resistant and auditable.

In the digital realm, where participants might be anonymous, establishing trust becomes a challenge. Reputation systems emerge as ingenious solutions. These systems evaluate the historical behavior of participants and assign reputation scores. Participants with higher scores are deemed trustworthy, while those with questionable conduct face skepticism.

Reputation systems bolster trust in P2P networks. They incentivize honest behavior, discourage malicious intent, and help users make informed decisions. Whether in e-commerce or file-sharing platforms, these systems offer a lens through which participants can assess the credibility of their counterparts.

P2P financial transactions have witnessed a transformative journey, with cryptocurrencies leading the charge. Cryptocurrencies enable direct, decentralized exchanges of digital assets through P2P platforms. These transactions occur without the involvement of traditional intermediaries, thanks to Blockchain technology, a secure and distributed digital ledger.

Consider the world of P2P crypto trading, where individuals engage in direct buying and selling of cryptocurrencies like Bitcoin and Ethereum. Platforms such as Binance P2P, LocalBitcoins, and Paxful facilitate these trades, allowing users to transact using methods like bank transfers, cash, or mobile money. This approach empowers users to have greater control over their transactions and fosters a sense of financial autonomy.

Another facet of P2P financial transactions is lending and borrowing. Users can lend or borrow cryptocurrencies or fiat currencies from one another, guided by their terms and preferred interest rates. Noteworthy platforms like Compound, Aave, and MakerDAO exemplify this concept. Through smart contracts and decentralized protocols, these platforms create opportunities for users to grow their assets or access funds while avoiding traditional financial institutions.

Beyond currency exchanges, P2P content sharing forms an intriguing segment. This practice involves users directly sharing digital content like videos, music, and books without the need for centralized servers. Platforms such as BitTorrent, LBRY, and Audius enable this dynamic interaction. By eliminating intermediaries, users can experience efficient and secure content sharing while retaining ownership and control over their creations.

P2P lending and borrowing platforms stand as a testament to financial innovation, enabling individuals to directly lend or borrow money without involving traditional banks. These platforms, such as Prosper, Lending Club, and Funding Circle, link borrowers and lenders, with terms and rates determined by the platform itself. For instance, Prosper, one of the pioneering platforms in the US, provides personal loans catering to various needs. Similarly, Lending Club extends its services to personal loans, business loans, auto refinancing, and patient solutions.

Venturing into the UK, platforms like Funding Circle specialize in small business loans, supporting entrepreneurial endeavors. The reach of P2P lending even extends to India, where platforms like OMLP2P and ET Money facilitate verified borrowers and lenders connecting for personal and business loans with flexible repayment options.

The landscape of P2P marketplaces has redefined how goods and services are accessed and exchanged. These platforms, like Airbnb, Pinterest, and Etsy, connect individuals offering products or services with those seeking them. For example, Airbnb empowers hosts to share their spaces with travelers, revolutionizing the hospitality industry.

Etsy, on the other hand, thrives as a hub for vintage, handmade items, and craft supplies. TaskRabbit connects users to various household and personal services, exemplifying the diverse range of P2P marketplaces. Even beyond these established names, platforms like Sharetribe enable anyone to create their P2P marketplace for products or services, fostering localized interactions and trade.

In todays digital landscape, Peer-to-Peer (P2P) transactions have revolutionized the way we exchange value. From everyday consumers to businesses, the convenience of direct transactions has taken center stage. Lets delve into the technical intricacies of P2P payments and explore how they are shaping the future of financial interactions.

Mobile payment apps are applications that allow users to make digital transfers to friends, family, or merchants using their smartphones. These apps utilize various technologies such as UPI, NFC, or QR codes to facilitate transactions. For instance:

Contactless payments utilize technologies like NFC (Near Field Communication) or RFID (Radio-Frequency Identification) to enable users to simply tap their cards or devices near a point-of-sale terminal. This streamlined process eliminates the need for PINs or signatures while maintaining security. One notable example of contactless payment is:

QR codes and scan-to-pay systems revolutionize payment methods by encoding transaction details within 2D barcodes. Users can scan these codes with their smartphones for swift and efficient payments, both online and offline. Examples include:

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What are Peer-to-Peer Transactions? - Blockchain Council