With great power comes great responsibility Uncle Ben 👨
El Salvador will begin issuing residence permits to those who invest $1 million in the country's economy - in bitcoins or USDT
Hong Kong police have launched an investigation into the cryptocurrency platform Hounax. The company is suspected of fraud and theft of 120 million Hong Kong dollars - approximately $15.4 million. The Securities and Futures Commission added Hounax to the list of suspicious companies in the crypto-asset market. #hounax #crypto #web3
Technology company OpenAI has announced that it is bringing back Sam Altman as CEO. This happened a few days after his sudden dismissal and the reaction of employees who threatened to leave en masse to Microsoft. #openai #chatgpt
Proof-of-Work (PoW) is a consensus algorithm commonly used in blockchain networks to secure and validate transactions. One interesting fact about Proof-of-Work is its historical origin and initial application. The concept of Proof-of-Work was first introduced not in the context of cryptocurrencies, but in combating email spam. In 1997, computer scientists Cynthia Dwork and Moni Naor proposed the idea of using computational puzzles to reduce email spam. The basic idea was to require email senders to solve a computational puzzle (proof-of-work) before sending an email. This would make it computationally expensive for spammers to send a large volume of emails. While the idea wasn't widely adopted for email, it later found its way into the design of Bitcoin by the pseudonymous creator Satoshi Nakamoto. In the Bitcoin network, miners must solve a complex mathematical problem as part of the process of adding a new block to the blockchain. This computational effort serves as proof that the miner has invested resources (in the form of processing power and electricity) into the network, making it costly for malicious actors to attempt to control the blockchain. So, Proof-of-Work's journey from a proposed solution for email spam to becoming a fundamental component of blockchain technology is indeed an interesting aspect of its history.
Key Characteristics of the Metaverse Projects (part 2) 🌐 🔹 Interoperability Many metaverse projects aim to be interoperable, allowing assets and avatars to move seamlessly between different virtual worlds. This interoperability fosters a broader and more connected metaverse ecosystem. 🔹 Digital Real Estate In the metaverse, virtual land is a hot commodity. Users can buy, own, and develop plots of digital real estate using cryptocurrency. These virtual spaces can serve various purposes, from hosting events and businesses to creating art installations. #metaverse #defi
Key Characteristics of the Metaverse Projects (part 1)🌐 ▶️ Summarizing the available experience, we can identify some characteristics that are inherent in most of the existing crypto metaverse projects. 🔹 Non-Fungible Tokens (NFTs) Non-fungible tokens are unique digital assets that represent ownership of specific items, such as virtual land, avatars, or virtual items. These NFTs are often bought, sold, and traded within the metaverse, adding real-world value to in-game items and land. 🔹 Decentralization One of the fundamental principles of metaverse projects is decentralization. By operating on blockchain networks, metaverse projects reduce the control and influence of a single entity, ensuring that the metaverse remains a collective and community-driven space. #web3 #metaverse #defi
To better understand the concept of crypto metaverses, let's look at their key purposes: 🔹 Ownership and Control Users can own and control digital assets within the metaverse, ensuring that they have full rights to their virtual properties and creations. 🔹 Social Interaction These projects provide a platform for users to interact, socialize, and collaborate with others, mirroring real-world social experiences in a digital environment. 🔹 Play-to-Earn Some metaverse projects, like Axie Infinity, introduce a Play-to-Earn model, allowing users to earn cryptocurrency by participating in the virtual world, creating new economic opportunities. 🔹 Creativity and Commerce Users can engage in creative endeavors, from creating art installations to building businesses, and monetize their virtual creations through cryptocurrency transactions. #web3 #metaverse #defi
The Metaverse in DeFi & Its Purpose 🌐 A metaverse project is a digital ecosystem built on blockchain technology, where users engage in a shared virtual space, owning, trading, and interacting with digital assets, often represented as non-fungible tokens (NFTs). These projects enable participants to immerse themselves in a dynamic and expansive virtual world, much like the fictional metaverse concepts found in science fiction. The primary purpose of metaverse crypto projects is to create a decentralized, user-driven virtual reality environment, where users have ownership and control over their digital assets and experiences. #web3 #metaverse #defi
The Origins of Metaverse 🌐 This term refers to digital environments that have been enhanced with virtual reality (VR) or augmented reality (AR) technologies. The metaverse definition is as follows - it is a collaborative, digital and immersive virtual environment where users can interact, communicate, create and engage with each other and digital assets. The emergence of metaverses is closely tied to the advancement of VR technology, driven by the increasing demand for immersive experiences. In recent times, there has been a surge in interest in blockchain metaverse development, largely fueled by the Web3 movement, which envisions a decentralized version of the internet. Concerns around information privacy, user dependency, and user security have arisen within the digital metaverse, mirroring the challenges faced by the broader social media and video game industries. #defi #web3 #metaverse
I know that life did not prepare you for this, but still: Boxes on Siemens, or a snake on Nokia?
Why do DeFi Trends Change? DeFi is a dynamic space characterized by rapid innovation and adaptation. DeFi's constantly changing landscape is shaped by several factors, including technological advances, user demand, regulatory developments, and market dynamics. As these elements evolve, DeFi development responds accordingly, resulting in shifting trends. #defi #web3
What is DeFi? DeFi is a set of financial services and applications built on blockchain technology. It aims to eliminate intermediaries, making financial services more accessible and inclusive. DeFi allows users to lend, borrow, trade and earn interest on their cryptocurrencies without relying on banks or centralized institutions. #defi #web3
7 Best Crypto Research Tools You Must Have as an Investor 1. CoinMarketCap 2. CoinGecko 3. Crypto X (Twitter) and Social Media 4. Crypto News Aggregators 5. Coin-specific Wallets 6. Portfolio Tracking Apps 7. ICO/Token Sale Research Platforms
Mastercard plans to collaborate with MetaMask. Payments giant Mastercard is exploring different ways to engage with crypto tech startups, according to a Web3 strategy workshop. In particular, they are considering the possibility of cooperation with organizations involved in the development of self-service wallets. These include MetaMask and Ledger. #crypronews #web3
Crypto Short - is an investment strategy in which an investor directs his efforts to profit from a decrease in the price of cryptocurrencies, by short speculative positions or planting (selling) cryptocurrencies that he does not own in order to buy them back later at a lower price. #crypto #investment