Blockchain

How does Over the Counter Crypto Trading Actually Work?


Although over-the-counter (OTC) stock trading has been around for quite a while, it has only recently made its way into the cryptocurrency arena. Traders started considering this a lucrative trading option for cryptocurrencies around 2014 when prominent exchanges like Circle, Binance, and Coinbase launched their own over-the-counter services.

Crypto OTC Development

New windows of opportunity have opened up for the sector through OTC trade. Not only have crypto OTC desks increased by leaps and bounds, private chat rooms (Telegram, LinkedIn, Skype) and crypto ATMs have also become successful channels of communication for crypto investors.

What is OTC trading?

OTC trading enables direct fund transfers between buyers and sellers. It does not require the involvement of intermediaries for deal settlements, as is the case for most exchanges. It can support much higher trading volumes than what standard crypto exchanges can accommodate.

For example, Coinbase’s OTC brokerage service allows its verified members Bitcoin transactions of up to US$ 25,000 per day. Similarly, AIS, an American OTC cryptocurrency service, allows its US customers to trade between US$ 10,000 to US$ 500,000 in Bitcoin. Minimum trade volumes across OTC desks are usually around US$100,000.

OTC crypto platforms have organically become the most preferred interface for investors interested in performing bulk trade, often through single transactions. Crypto OTC is a lucrative option for sophisticated investors, institutions, hedge funds, and crypto miners.

In crypto OTC trade, buyers and sellers pre-decide on asset prices between themselves in complete privacy and anonymity. Transactions are not recorded in order books when it comes to private deals. Therefore, unlike exchange trade, crypto OTC trade remains unaffected by market movements. Price slippage and liquidity are not much of a concern here. When you invest in a significant amount of crypto, you have the option to keep the transaction anonymous and protect your identity in the process. Crypto ‘whales’ (owners of gigantic digital asset holdings) also prefer to use OTC crypto trade as it helps push larger trade volumes without drawing attention.

Crypto over-the-counter trading – essential features

Now that we have a bird’s eye view of crypto OTC trading, let’s explore some of the unique features that implore most traders to choose it over traditional crypto exchanges.

1. It allows traders to deal in lesser-known crypto tokens like Monero, Filecoin, etc., that are usually unlisted in regular crypto exchanges.

2. OTC trade enables fiat-to-crypto and crypto-to-fiat transactions for their clients. Barring a few names like Coinbase, Binance, and eToro, most traditional crypto exchanges still do not support such transactions.

3. Conventional crypto exchanges have complicated fees structures for trading, withdrawal, wire transfers, etc. Trading fees can drastically vary based on the amounts traded. Conversely, crypto OTC desks have a single chargeable rate for all traders – a key reason why it is a more suitable choice for institutional investors.

4. In crypto OTC, investors have full custody of and control over their funds throughout the trading process. Traders themselves are solely responsible for each transaction.

5. Crypto OTC involves large sums of money, and therefore involved institutions undergo more strict and detailed verification processes. Validating investors’ identities and complying with anti-money laundering regulations are crucial for the OTC trading platforms.

Over-the-counter desks are gaining momentum in terms of improved security and confidentiality in the crypto domain. From price stability to faster responses, and ultimate convenience, OTC desks are adding new dimensions to crypto trade. Visit https://www.ionixxtech.com/crypto-otc-development and write to us at info@ionixxtech.com. Our team of Crypto Solution Consultants would be happy to assemble the most intuitive and secure crypto OTC desks for you!



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Vulnerabilities that can Shake Off the Metaverse, and their Solutions


The metaverse has been a hot topic of discussion, with experts predicting that it will be worth about $85 billion by 2025. This has drawn the attention of the likes of Microsoft, Facebook, Nvidia, Microsoft, Magic Leap, and other giant wits.

The word metaverse combines the prefix “meta” which means beyond and “universe“. The metaverse combines different technologies, augmented reality, the internet, and virtual reality to bring out a virtual space where people can socialize, play, own land and trade- especially using digital currencies. The perceived world is characterized by enhanced 3D physical reality with endless possibilities.

Usually, participants on the metaverse are represented by digital avatars, making it possible for participants to engage in various activities in the virtual world. Some metaverses are a replica of existing real-world items, while others are fantasy realities allowing users to explore their imaginations. One thing to note is that the metaverse is constantly growing and evolving, thanks to increased participants from its societies.

While the concept is still nascent, it has shown great potential in transforming the marketing, gaming, and communication industries. For instance, metaverses have already begun allowing participants to advertise their physical stores (businesses) through billboards. Some have allowed owners to hire out their virtual spaces to others for advertisement purposes.

Vulnerabilities on the Metaverse

Being the latest trend, the metaverse is the perfect target for cyber-attacks. The high level of interactions calls for accountability from both developers and users. The growing number of cyber-attacks has been a significant concern for many sectors, including the upcoming NFT (Non-fungible Token) marketplace.

Since the metaverse concept was introduced, there have been little to no cases of hacking attacks. While this might be comforting for some within the industry, the truth remains that hacking attacks are imminent.

Reportedly, Trend Micro's report titled "Attacks From All Angles: 2021 Midyear Cybersecurity Report" highlights how hackers have updated their tactics and are now more motivated than ever to lure unsuspecting users. 

In the last few months, hackers have conducted high-profile modern ransomware attacks, created Covid-19 scams, and threatened various clouding services and the internet of things (IoT).

In the metaverse, these attacks may take ‘sci-fi’ type forms through deep fakes and hacking of avatars. These types of attacks might make it harder to identify, verify or bring under control, and it might be difficult or impossible to ascertain where responsibility lies regarding the breach.

For instance, some metaverse projects allow businesses to create storefronts, a replica of their physical store. However, there is no guarantee that the storefront on the metaverse belongs to the actual company or brand.

Must Read: Need of Cybersecurity in Metaverse

Challenges Ahead

The main challenge lies in the possibility of hackers forging features, voices, footage and other characteristics that make up high-end stores, businesses, and brands to defraud uses within the metaverse. The nature of the metaverse makes it a formidable task to safeguard users’ real identity from the metaverse avatars.

Another concern is the wrongful use of smart contracts. Hackers can use online swap services facilitated by smart contracts to move users’ cryptocurrencies out of their wallets. By representing reputable businesses and high-profile personalities, hackers will gain the trust of unsuspecting users who will willingly enter into smart contracts. As a result, many will lose their assets to hackers and will not be able to take any action against them.

Data privacy and security is also a significant concern in the upcoming metaverse space. For instance, some metaverse projects will allow users to create a replica of their homes, streets, and cities, which will make it easy for dubious characters to steal personal data, including floorplans that they might need to conduct a physical attack (burglary) on the users.

Possible Solutions

At the moment, developers and users can use existing security measures to protect themselves and the virtual spaces against existing attacks.

Among the proponents that currently need protection in the metaverse include user privacy, data use ethics and safety, and biometric data. However, the available protection mechanism will not effectively prevent new attacks that have not been experienced before.

That said, it is high time for participants within the metaverse to set up adequate measures that will help fight against such attacks. Since users’ data on the metaverse platforms are stored on different servers across the globe, it is essential to have a proper mechanism to protect the information from unwanted parties.

There is a need to create new personal data and privacy protection methods. This could include providing more personal data by users during the verification process and upgrading security systems by developers.

In addition, there is a need to introduce regulations that will help govern operations within the metaverse. This, however, will not be an easy task, given the different jurisdictions that are at play and uncertain possibilities in future development.

Conclusion 

In conclusion, the best approach to ensure the sanctity of the metaverse industry would be to create guidelines that help exciting and upcoming metaverse projects. These guidelines should factor in the complexities of running and interactions in virtual reality. Once the guidelines are established, it will be easy for participants to prepare against hacks and other cyber-attacks in the metaverse.

Reach out to QuillAudits

QuillAudits is a secure smart contract audits platform designed by QuillHash
Technologies.
It is an auditing platform that rigorously analyzes and verifies smart contracts to check for security vulnerabilities through effective manual review with static and dynamic analysis tools, gas analysers as well assimulators. Moreover, the audit process also includes extensive unit testing as well as structural analysis.
We conduct both smart contract audits and penetration tests to find potential
security vulnerabilities which might harm the platform’s integrity.

If you need any assistance in the smart contracts audit, feel free to reach out to our experts here!

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A Breakdown Of Bitcoin and the Game Theory


Game theory is fundamental to the development of cryptocurrencies and is one of the crucial reasons why Bitcoin managed to thrive for over a decade, despite numerous attempts to disrupt the network.

In the past decade, thanks to the ever-increasing popularity of Bitcoin, blockchain technology has attracted a significant degree of attention from both academia and industry. In this article, we examine the game theory of bitcoin, an often mentioned but misunderstood aspect of bitcoin adoption.

What Is Game Theory?

Game theory studies the process of strategic interactions between two or more players in a situation where the outcome for each participant depends on the action of all.

In practice, if you are a player in such a game you must take into account the choices of others when contemplating your strategy. Thinking about their choices, you should also be aware that they are thinking about yours.

Game theory is based on the assumption that all participants are rational actors and are trying to maximize their gains from the game.

Game theory is the science of multi-agent decision-making. It uses mathematics to study the strategic interaction of rational decision-makers. Game theory has social, logical, and computer science applications. It also has Bitcoin applications at the personal, social, business, and nation-state levels.

The prisoner’s dilemma

The prisoner’s dilemma is one of the most popular examples of a game theory model. Let’s see what this example is.

  • It illustrates a scenario where 2 criminals (A and B) are being interrogated after being arrested. 
  • Each criminal is interrogated in a separate room and is unable to communicate with the other. 
  • The prosecutor tries to convince the criminals to testify against one another as a way to reduce their charges. 
  • If A testifies against B, he is set free and B is arrested for 3 years (and vice versa). 
  • However, if both of them betray and testify against each other, they are both arrested for 2 years. 
  • Lastly, if both A and B decide not to betray and stay quiet, they are only sentenced to 1 year in prison due to a lack of sufficient evidence.

Therefore, we would have the following possible outcomes (based on their individual decision):

Clearly, the best scenario for A (or B) is to betray and be set free, but that would require the other to stay quiet and there is no way to predict what decision the other would make. 

In face of a reward, many rational prisoners would probably choose to act on self-interest and betray the other. But if both A and B betray they would stay 2 years in prison and that is not really the best outcome. Therefore, the best option for them, as a pair, would be to stay quiet and get only 1 year instead of 2.

The Prisoner’s dilemma has many variants, but this simple story illustrates the idea of using game theory models to investigate human behavior and possible outcomes based on their process of rational decision-making.

Game theory and cryptocurrencies

What Satoshi Nakamoto, the creator of Bitcoin, did was to find the missing piece of the puzzle: how to ensure that all the actors of a decentralized network behave correctly without trusting each other, an issue that is commonly known as the Byzantine Generals problem.

In simple terms, it is a problem of coordination. The Byzantines are trying to conquer a city, but the attack will only be successful if all generals coordinate and attack together. The problem is how to ensure that all generals will follow the plan, even if they are located in different places and do not trust each other.

When applied to cryptocurrencies, game theory models play an important role when designing a secure and trustless economic system, such as the one of Bitcoin. The creation of Bitcoin as a Byzantine fault-tolerant (BFT) system is the result of a harmonious blend of cryptography and game theory.

The Bitcoin Dilemma

How does this model apply to Bitcoin? A similar model can be found on any scale in our Bitcoin game.

If you take any two individuals, businesses, competing nations, large corporations, any entities for whom the goal is to acquire more capital and enrich themselves, they are all witting or unwitting participants in the Bitcoin Dilemma. Players can either choose to accumulate Bitcoin at any moment or defer to a higher price.

The players in the Bitcoin blockchain are the users of the network and the miners that maintain it. Since Bitcoin is a distributed network, the miners are essential for the network to work correctly as they confirm the validity of transactions.

In simple words, Bitcoin uses game theory and a system of material incentives to make sure that rational actors behave in a certain manner by aligning their interests. In particular, they have been used to influence the interactions and behavior of the miners of the network.

Closing Thoughts

The general application of game theory is to examine how humans behave and make decisions based on their rational minds. Therefore, game theory models should always be considered when designing distributed systems, such as the ones of cryptocurrencies. 

Thanks to a balanced combination of cryptography and game theory, the Proof of Work consensus algorithm was able to create the Bitcoin blockchain as a decentralized economic system, which is highly resistant to attacks. The same is true for other cryptocurrencies and the concepts of game theory also apply to PoS blockchains.

Game Theory has made Bitcoin and cryptocurrencies strong and secure as a whole. Keep in mind, however, that the degree of security and resilience a blockchain has is dependent on its protocol and is directly related to the number of participants of the network.  

About Us 

ImmuneBytes is a Blockchain security firm that employs the industry’s best tools and practices to provide a comprehensive smart contract audit. We have a team of robust and experienced security professionals who are adept at their niches and provide you with a quality service. We have worked on 105+ projects spread across the world on different Blockchain frameworks with some of the industry’s top firms and we continue to unfold the decentralized movement.

We are also providing consultancy, coming up with a bug bounty platform, and also an insurance product to provide our clients with a hassle-free security product catalog. Stay tuned.



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Joining CoinFund. After 13 years of venture investing… | by David Pakman


David Pakman

After 13 years of venture investing, and 30 years in tech, I’m going “all-in” on crypto and am joining CoinFund. Please read on to learn why…

I have always loved technology. As a 7th grader, I used to create “light shows” in my basement by plugging strings of Christmas lights and colored bulbs into extension cords and switches and synchronizing their flashes to music. I subjected my parents, brother, and anyone who came to visit to a three minute show of blinking bulbs and strobe lights while listening to Moog synth cover songs.

I was reminded of this geeky and unceremonious chapter of my life when I looked at this picture of one of my ethereum mining rigs from 2017. Back then, my kids and I brought visitors down to the basement to witness the blinking lights and scrolling console updates of stressed GPUs solving puzzling hash algorithms in exchange for some crypto rewards. No one understood what the heck we were doing. Another geeky chapter indeed (albeit, a much better investment than the light shows).

While I was late to crypto compared to the OG crypto believers of 2012–2015, I have moved from curious to crusader over the last five years. To me, this is the most exciting combination of tech innovation and market opportunity I have witnessed since the birth of the commercial internet in 1995.

Fundamentally New Tech Platforms

Major tech trends often start small, among those building the underlying technology. Think TCP/IP, Linux, and MP3s. Then developers come along and begin experimenting with the technology, improving it, and building new things atop it. This is exactly the case with crypto, but in even more profound ways. Bitcoin (and then other blockchain) network adoption happened slowly, with only scores of unique active wallet addresses in the early stages of the network, eventually reaching many more today.

Like open source before it, crypto embraces a share-what-you-make mentality. In crypto, we use the word “composable” to mean that many of the early primitives and protocols created are open and usable by other developers to power the next innovation. This tends to magnify the importance of each new invention.

The innovations from crypto threaten to impact all aspects of technology, restructuring the architecture below applications, using decentralized organizational, network and application structures and re-arranging the value chain of every market it touches. Structurally, crypto offers solutions to many of the challenges we see in today’s data monopolies, platform censorship, and in abusive fees charged by legacy middlemen. Most importantly, the global startup energy bubbling forth from this ecosystem is infectious.

Perhaps the strongest signal around crypto’s enormous possibilities for value creation are the number of otherwise informed people outright dismissing its potential before actually working to understand it. It reminds me of how hard record company execs worked to put the MP3 genie back in the digital music bottle. Or of how vehemently traditional TV and movie execs declared that Netflix would fail in original content. Or how certain all the legacy auto execs were that Tesla would never succeed.

A Killer Investment

Over its brief 13+ year lifespan, crypto has not only facilitated significant tech innovations but has proven to be the single best performing investment asset. If you are a professional investor tasked with finding the best returns in the market and you ignored crypto over the past decade, you missed the best asset class returns in eight of the last ten years and cumulatively overall. In fact, Bitcoin’s 200% CAGR is unmatched in all of financial history. Not even Tesla (63.8%) nor Amazon (33.5%) come anywhere close in 10-year CAGR.

The Cost of Ignoring Crypto — Data as of 3/13/21

When Tech and Culture Collide

All of the most impactful tech trends are supported by a symbiotic wave of cultural impact. The early internet (and AOL) was bolstered by attachment to newsgroups and message boards. The 2000’s internet was accelerated by the conveniences of ecommerce and digital media like streaming music and video. Mobile devices were propelled by texting and messaging. And of course our present social media addiction has created frighteningly large data monopolies. These moments when new tech is the zeitgeist create massive investment waves and re-arrange industries.

That is exactly what is happening in crypto. More than one hundred million people hold crypto assets, and this early adoption has largely been driven by retail millennial investors. With $85B total value locked (TVL) in DeFi contracts, we bear witness to an entirely new financial services industry being built on software protocols and smart contracts, not bankers. Now, with more than $3B of NFTs sold already this year, we see a profound intersection among artistic expression, community activity and digital assets. And we haven’t even touched the subject of DAOs, a novel community governance mechanism rising at the precise moment when so many are questioning the challenges facing representative democracy.

When Tech and Policy Collide

I am certainly not a lawyer nor do I have FinTech public policy bona fides. But over the course of my 30 years in tech, I have worked on technology that reached enough mass adoption to implicate policy several times. At Myplay and eMusic, I was at the forefront of digital music and testified in front of Congress multiple times around webcasting rates and streaming royalties, lobbying both the US and EU for fair, equitable and geography independent royalty regimes. During my time at Venrock, I worked with a large group of tech founders and VCs to pave the way for net neutrality during the Obama administration.

As we all know, in most countries, crypto regulation is, well, unsettled. There are already significant policy implications rising from crypto innovations, and many more are coming. While it’s often hard for engineers to appreciate the need to engage in policy discussions, if we don’t, others will, and we may not like the outcome. Incumbents are often experienced at using the wheels of public policy to grind innovation to a halt and prevent disruptive technology from impacting them. I look forward to more meaningfully joining the effort to prevent that from happening.

Joining CoinFund

As I became more and more curious of crypto in 2017, I was lucky enough to find a team of true crypto OG technical and investing talent. CoinFund, started by Jake Brukhman in 2015, had been consulting to and investing in many early-stage crypto companies. In 2018, the Venrock partners and I invested in CoinFund and partnered with them. Over the next three years, we found quite a few deals together and partnered on several of them. As I reached the decision this year that I wanted to shift full-time to focus on crypto venture investing, it became clear to me that working more directly with Jake, Alex Felix, Oleg Golubov, Seth Ginns and the rest of their team was a perfect fit for me. There are few teams in crypto as deeply knowledgable and connected as CoinFund. And they have already done the hard work structuring their firm and funds in such a way as to allow the varied types of investing crypto requires. Finally, for me, this is a chance to really build a firm, not just an investment portfolio. Crypto, already a ten year wave that has created more than $2T of value, in my opinion, has at least another twenty years of transformation ahead of it, with at least 100x the value creation potential from here. I am so appreciative the CoinFund team welcomed me aboard for the ride.

I am beyond thankful to Venrock and my many partners there for teaching me all that I know in venture, for guiding me through the last thirteen years, and for being supportive of my varied interests in investing in various tech sectors, from consumer services to consumer products, from robotics to crypto. And finally, their support of me making this move by further investing in CoinFund helps cement the possibilities for further collaboration between CoinFund and Venrock moving forward.

(I am happy that I will continue to sit on the boards of Dapper Labs, Rarible, Running Tide and Simbe Robotics on behalf of Venrock.)

Turns out basement projects aren’t just for kids.





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Crypto Market Overview: Reasons Behind BTC Fall, Top Monthly Gainers


Bitcoin’s value has declined by around 14% since its recent peak, and other major cryptos have followed suit, rattling a bullish run. Bitcoin’s price hovered around $57,000 on Thursday, its lowest level since mid-October, after briefly falling below $56,000 a day earlier.

So far this month, BTC’s value has dropped by 6%, leaving investors unsure of how deep the fall can go. My vantage point as the PR head of a big crypto exchange allows me to see the market from the inside and what is happening today is very similar to what happened in the past. In my opinion, this is just a pullback as Bitcoin gathers power before making its next leap to new highs. 

However, Bitcoin’s price has fallen dramatically in recent weeks from the peak of nearly $69K it reached earlier this month, raising the question of why the previous correction took less time and wasn’t as severe.

Source: TradingView 

The plunge in crypto prices can be attributed to multiple factors. Among them is the Securities and Exchange Commission (SEC) rejecting a bitcoin ETF, which would have likely seen billions of dollars poured into the cryptocurrency market.

Furthermore, China is tightening its grip on Bitcoin mining, saying it will consider “punitive electricity prices” for some crypto mines as part of its next phase of crackdowns.

In related news, US President Joe Biden signed a $1.2 trillion infrastructure bill last week, which includes provisions that could have tax implications for crypto investors.

Additionally, I believe that rising selling pressure and profit-taking are the other contributing factors. We are experiencing crypto’s natural cycle. Whenever assets reach record highs, people sell off their assets. However, large sales can result in the value’s drop. 

Cryptocurrencies have also been hit by a strengthening dollar, which is always a negative factor. 

Ned Segal, Twitter’s CFO, also made negative remarks about cryptocurrency, which may have influenced the market. According to him, investing cash into crypto assets at this point isn’t wise.

Therefore, it is no surprise that the Crypto Fear & Greed Index shows that market sentiment, which was neutral last week, is now in “fear” territory with a reading of 32/100 as of writing. 

Source: www.alternative.me

However, there is no reason to be surprised by Bitcoin’s volatility, bearing in mind it has shown a steady rise in value over time. 

It seems like Bitcoin is on its way to bounce back to new price records. Still, even though we see some signs of recovery, it’s too early to speak of a fully-fledged bullish trend. 

The average directional index (ADX) which measures trend strength currently stands at 13.26, indicating a weak trend. I think the bulls are too tired and need some time to recover and consolidate. 

Source: TradingView 

The next level of resistance, in my opinion, is $60K. After BTC price breaks through it, we can expect accelerated growth and new heights. 

An increasing number of people and businesses are becoming exposed to Bitcoin. Thus, according to documents filed with the U.S. Securities and Exchange Commission (SEC), Morgan Stanley added 1.5 million shares of Grayscale Bitcoin Trust (GBTC).  

Several investment firms began offering crypto to clients, including Goldman Sachs, JPMorgan Chase, and Wells Fargo. With top cryptocurrency developments such as El Salvador accepting Bitcoin as legal tender, the launch of the first Bitcoin futures ETF, and Tesla and MicroStrategy adding Bitcoin reserves to their balance sheets, it seems very likely that exponential growth of crypto adoption will drive price increases for Bitcoin and other major coins.  

Over the past 30 days, Mars Space X (MPX) coin was the top performer making a stunning 1,447,841.08% monthly gain. At the time of writing, it traded at $0.000007489, up by 460% in a day. MPX is a cryptocurrency aimed at providing capital output to Elon Musk’s Mars Project.

Source: CoinMarketCap 

Dogebonk (DOBO), a token on Binance Smart Chain (BSC) with deflationary properties and automatic yield generation, was the second top performing altcoin, posting a 11,823.12% monthly gain. It was last traded at $0.0000003291, down by 8.7% in 24 hours. 

Source: CoinMarketCap 

Solar Energy (SEG), a deflationary BEP20 token from Binance Smart Chain aimed at creating photovoltaic power plants in Brazil, was the third top gainer for the last 30 days, posting a monthly gain of 12,431.32%. Over the past 24 hours, it decreased by 74.70% to $0.0008315 however.  

Source: CoinMarketCap 

Coin To Fish (CTFT) was the fourth top gainer, marking a 9,131.47% gain month-on-month. At last check, it traded at $1.40, up by 85.70%% in 24 hours. 




Source: CoinMarketCap 



The next best-performer was Arbis Finance (ARBIS) coin, making a 4,112.74% gain over the past 30 days. At the time of writing, it rose by 21.66% in the last 24 hours to $0.0005518.

Source: CoinMarketCap 




Along with other top performers, FarmerDoge (CROP) made amazing monthly gains, rising by 3,844.38% over the past 30 days. At the time of writing, CROP traded at $0.008346, slightly down by 1.7% in the past 24 hours. 

Source: CoinMarketCap 

Please note, that this article was finished on Tuesday, and the situation might have changed since then. This material firstly appeared on Cointelegraph.

Image source: pexels.com



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NFT For Politics – Token that restructures the Society


NFT for political change, democratic cause, and for making something good in society, sounds weird right? Revolution,re-structure, and redefining have become the routine workflow of the digital era’s high potent tech the NFT’s. The initial stages of the NFT are well known and the hype they created is now far more familiar than their origin. Lately, NFT has been a game-changer everywhere they grow.

If you think about the possibilities, let me tell you about one of the biggest art trades that the world has ever seen is made in the NFT space. And the creator of that art is now one of the top three most valuable artists in the entire world. And the magic is performed in the NFT space. But the form now NFT has taken is completely different. An exclusive platform that concerns society and democracy.

Politics in NFT?

Nope, not really, actually, NFT is in politics making a huge difference, have you ever thought of the piece code that can impact in a very long way. This time Non-Fungible Token’s efficiency has turned towards making some moves in the crypto space. To know more about the NFT in politics, we should be able to understand how the NFT traditionally works. The NFT is a token type that possesses unique and indivisible characteristics. These NFTs are different from each other of its kind. Both the digital and physical assets can be converted into NFT. These NFT will act as a key to hold the authenticity of the asset.

For example, the Non-fungible tokens will have an effective protocol in the crypto space, which will encrypt the assets and the ownership will be kept secured in the smart contracts. This way the asset minted will have an indestructible nature until the user plans to transfer the ownership. By bringing NFT to politics, there are many objectives that can be achieved, for example, crowdfunding for the campaign or petition to an agenda can be done very easily with the crypto space.

NFT Politics Platform – What are the Potential

If the talk is about the potential of the platform if I say that it really has the potential to lock someone behind the bars or on the other hand, the platform is potential enough to influence the people with certain agenda. The possibilities and the potentials are high enough in the crypto space. If you are confused let me give some examples for that,

Case 1: Minting Agenda

With the NFT politics marketplace, the candidates can just get in and mint their own agenda’s NFT and which go for sale, parallelly it gets popular and at the same time, the revenue generated from the NFT will also be used for addressing or meeting the agenda.

Case 2: Arrest warrant

By minting a wanted post for an offender or law abiders and listing in the NFT marketplace. The popularity and the sale of the NFT will grasp the attention of the common public and the voice against those abiders will increase at the same time, financial support to get them behind the bars legally will also be availed. With NFT onboard everything is possible, and there are plenty of examples in the existing.

There are many ways available in Our NFT politics marketplace to act as responsible citizens, on the other hand, this will play a vital role in connecting crypto space and the real world easily. As people’s hesitation towards the NFT and crypto is that they are hard to explain and understand. Once the politics-based NFT marketplace is getting into the trend. There more people will adapt to this technology and there we got another chance to increase the insights of the crypto space.

NFT marketplace for politics – Role of Candidates

With the NFT marketplace for politics, the candidates who are nominating themselves for the elections can make a campaign virtually at ease. By minting posters and videos of their mission, vision towards the society, they can raise funds and also support among the people. This will also act as the promotional objective for them. The raised funds can be used to isolate the complexities in their market or to increase the facilities in the crypto space.

NFT marketplace for Political Influence:

The techs are getting advances the same as our developments, we choose to evolve as the technology updates itself. Our NFT marketplace development will have the most advanced components and our NFT marketplace developments flow will follow.

  • User interface is always a prime concern, where the User interface has the market important equal efficiency of the NFT marketplace. People’s adoption of the NFT marketplace will increase only if the UI is attractive and easily adaptable.
  • Our NFT marketplace will have the best security protocols that will keep all the adversaries away from getting access.
  • API integration is done to keep the NFT marketplace effective and efficient for the long run.

Wrap Up

Blockchain App Factory is more concerned with bringing innovative ideas in the crypto space. Our experts will work consistently on providing a smooth and stable platform. NFT politics is our next instance. Join us to be the pioneer of the crypto-verse.



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Lessons from Working with Successful Consortia


If you’re like most executives, you’re not just curious about ecosystem collaboration—you’re convinced: According to our research, 86% of executives agree that multiparty system collaboration is “desperately needed” in their industries.  

You’ve heard the stories and seen the case studies showing how organizations are coming together to create value and, sometimes, entirely new markets. Even as far back as 2018, multiparty solutions from companies like SIAM Bank attained value quickly and continue to do so today. Executives also increasingly view ecosystems as a way to “collaborate through the chaos” of the pandemic and maximize their tech investments. 

So what separates the early adopters of the world from those who have yet to convene? Maybe it’s my 20 years in consulting talking, but I believe leaders already know why they need to do it—they just need the how. 

BY 2023, 60% OF ENTERPRISES

across the industry will share information and data to cloud-based ecosystems for enhanced operations, innovations, and collective monetization.


Moving past “partnership paralysis”

It’s one thing to continue procurement-as-usual and buy into a prebuilt vendor solution, but building something new and customized? With others? Possibly competitors? (That’s right: Accenture is engaged in more than 30 consortia, over 20 of which include direct competitors.) It’s a whole new ballgame. 

Despite the prospect of saving hundreds of millions down the line, people balk at the idea of opening up their processes to work with new partners. There are questions of funding, risk and countless what-ifs. I call this partnership paralysis—when you have the appetite but lack the operational approach to form a consortium with confidence. 

Multiparty system technologies are instrumental in driving up that confidence. By enhancing trust in data sharing, they eliminate many of the pain points of partnering up. In fact, 90% of executives agree they create a more resilient and adaptable ecosystem foundation to create new value with partners. 

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But it takes more than technology and data confidentiality to form a consortiumeverything from how you work together to how you do it responsibly is on the table for consideration. To start, let me paint a picture of the process from initial roadblocks all the way to deployment.

Pitfalls to watch for

To give you a leg up on what to expect, let’s outline a few common challenges I’ve seen over my six years in this space. The good news? Every single one of them is manageable from the outset. 

  • Lack of a common purpose. A shared vision and willingness to innovate across all parties is essential. Take automakers Ford and Volkswagen, who formed an alliance around electric vehicle (EV) and self-driving car technology in 2019 to share costs in response to tectonic market shifts that all original equipment manufacturers are facing. 
  • Competitive conditioning – We’re wired by the age-old imperative to constantly drive competitive advantage, but it can really get in the way of your network’s larger vision for your industry. This is why the common purpose is so powerful. 
  • The zero-sum game. Trying to suss out how one party can gain value at the expense of another is naturally toxic to the group. Assess the impact of your value pools across your ecosystem, and understand that new value is shared, not extracted by any one participant. 
  • Focusing on technology vs. collaboration. Think first about the collaborative business model and then consider how technology enables it. 
  • Getting the right people at the table. It can be a tough to bring the right stakeholders and influencers on board when procurement officers are used to buying solutions off the shelf. Not to mention, you’ll need to bring in a new round of players as you move stage to stage, evolving your solution and strategy as you go.

The 3-part process

In addition to implementing data confidentiality across the ecosystem via multiparty systems, our phased methodology helps ensure everyone is properly incentivized and set up to evolve for long-term success. 

At a high level, here’s the gist: 

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<<< End >>>

How it looks in practice: Operations and deployment

A solid consortium operating model incorporates the following right from the start: 

  • Governance (When consortiums struggle, it’s because they don’t have good governance) 
  • Commercial + technology layers 
  • Network operations
  • And your plans for going to market, network expansion and continuous improvement 

Generally, a strong operating model includes a functional steering committee, a technical steering committee and a board of directors to drive effective collaboration. After you make key foundational decisions, such as whether to form a new entity or pursue joint-ownership, you’ll also identify who will call the shots in the future.  

From a deployment perspective, we’re starting to see three models play out: 

  • Not for profit – This model tends to serve industry-wide solutions, such as the creation of standards like the GS1 for U.P.C. Barcodes or vehicle identification numbers for cars. The Mobility Open Blockchain Initiative (MOBI) is a not-for-profit consortium that started out creating standards and has evolved to building infrastructure to generate even more value from the ecosystem it created. 
  • Founder-led – Here, a central deployment leader owns the ecosystem and drives how it’s realized and how participants share data. Usually, this party is already in a position to set industry standardsas is the case with the Australian Stock Exchange (ASX), which is replacing its infrastructure with a multiparty system solution.  
  • Vendor-led – While we’ve been talking about consortiums, we’ve seen a number of vendors stepping in to solve the ecosystems problem. They use traditional startup model funding mechanisms like investors or passing the plate to future parties in the ecosystem to bring a solution to the market.  

Worth noting: With multiparty systems, support is very different. In the absence of your standard vendor-to-consumer relationship, you’ll have to define how your participants negotiate major decisions, change requests, problems, reconciliation, roadmap sharing and more.

Find your starting point

Based on our work with over 30 different consortia, this much is true: Collaboration doesn’t kill competition—it reinvigorates it, creating new pools of value out of faster, more accurate, more trusted processes and customer experiences. With a shared vision and the right operational approach, businesses can bring even the staunchest competitors together to unlock long-term shared value at industry level. 

If you haven’t thought where your multiparty system opportunities lie, our Shared Brilliance Multiplies Resilience report is a good place to start. There we explore how ecosystem collaboration is redefining the future of moneysupply chains and digital identity in the wake of COVID-19.   

If you’re already partnering up around your own use cases—let’s see where you’re at and customize your next steps to help you get it right.

Got half an hour? Check out my video breakdown of this post.


Disclaimer: This document is intended for general informational purposes only does not take into account the reader’s specific circumstances, and may not reflect the most current developments. Accenture disclaims, to the fullest extent permitted by applicable law, any and all liability for the accuracy and completeness of the information in this presentation and for any acts or omissions made based on such information. Accenture does not provide legal, regulatory, audit, or tax advice. Readers are responsible for obtaining such advice from their own legal counsel or other licensed professionals. Accenture, its logo, and Let There Be Change are trademarks of Accenture.  

Copyright © 2021 Accenture. All rights reserved. The Accenture name and its logo are trademarks of Accenture.



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📣 #Airdrop Alert: MetaPlay Token Airdrop is Now Live 🔥🔥 – GokuMarket


To celebrate the listing of MetaPlay Token (MPLAY) on the GokuMarket Exchange, MetaPlay is giving away MPLAY in an Airdrop! 💰💰💜

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⚡ Extra points for Staking GMC in the GMC Vault 💵

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Don’t miss our upcoming updates, like & follow to stay in touch!

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7 Ways to Launch White Papers with a Bang | by Codezeros | Nov, 2021


Codezeros

The publishing of a white paper can be a bit tricky as you need to go ahead with some steps in marketing. Marketing is one of the greatest ways to create a buzz to make people know about your upcoming launches.

However, unlike the marketing of a book, you will not be required to market the white paper several months before the publication. You can easily push its marketing one or two weeks before the publication via any reckoned modern whitepaper solutions company. So, here is how you launch a white paper with a lot of engagement.

Modern Whitepaper Solutions Company
7 Ways to Launch White Papers with a Bang

Before you get started with your Blockchain whitepaper writing and launching, you will need to make up a plan. Don’t be random with your publication. It is important to make a plan and be ready for a finalized publishing date.

If you have made your white paper complete in advance, make sure you have proofread, edited, designed, and reviewed it properly. It will help you to stay away from any problems during the time of publication. You can wipe off any of the errors or oversight to stay away from last-minute issues.

Do not wait for the white paper to be published. Rather go live with the landing page. It is better to go live with your landing page before two weeks of publication. It will help your readers to know about the contact details.

However, people tend to visit a blog once and never visit that site again. But in case you publish the landing page of your white paper there to gather email addresses, then you can ensure more readers for it.

2. Create relevant blog posts to back up your paper publication

It is important to generate traffic to your white page. You can do it easily through the writing of a series of relevant posts. After writing each of the posts, in the end, you can add a CTA that will inform your readers about the new white paper and link to your landing page.

It will further help you to increase your traffic, and at the same time, it will encourage people to come and sign up more to read your white paper.

3. Opt for the guest posting

Guest posting is one of the very sophisticated ways of marketing or creating a buzz for your white paper. Writing your guest posts on famous blogs can work as a way to boost the launch of a new white paper.

To work with it, you will need to make sure that you are targeting blogs, which can focus on a similar kind of niche or topic your white paper is covering. For example, in case you want to publish a paper on Blockchain whitepaper solutions, then visit related sites. You can think of writing some of the posts before your white paper goes live. It will help you to boost your reader base before and after the day of the launch.

4. Get your reviews

Generating reviews can work as one of the best ways to gain traffic to your new white paper. In case you are familiar with an expert on this particular subject with which you are working, you can make a copy of the preview available for them to gain reviews.

Gaining reviews for your white paper will further help you to get more credibility over your white paper. Any good whitepaper writing service provider will let you have the ease of review generation, which will further amp up your accuracy and leverage your publication.

5. Invite others for guest posting

To tap into a larger audience base, you can invite others to do guest posting to your site. Publishing guest postings or blogs from an expert on a similar subject can help you to get a lot of relevant and higher-quality traffic.

Your posts from the experts will help you to attract more readers to your blog post who might show you interest in going through your new white paper. You can further opt for any reliable company offering top-notch ICO whitepaper writing services and ask them to do guest posting on your site.

6. Email your white papers to the subscribers

If you have a long list of subscribers, then things can become easy for you to launch your white paper. You can notify your subscribed readers about the white paper at least one or two weeks ago before the launch. You can further make them know about the pre-publication of your landing page to ask them to sign up further. Consider sending them an email on the day of publication to read it.

Conclusion

Creating a buzz with your Ethereum whitepaper development is not tricky when you know how to do it correctly. All you need to do is, opt for the right strategies while creating a buzz so that you can reach out to your readers early and make them engage in reading.



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What is Crypto Lending? – 101 Blockchains


Decentralized Finance or DeFi has emerged as a formidable revolution in the conventional concepts related to finance. With the power of blockchain technology, DeFi solutions could provide new approaches for accessing and using financial services. Crypto lending has become one of the formidable trends in the DeFi landscape, especially after the COVID pandemic in 2020. The new trend in DeFi is one of the many new ways to grow your crypto assets. 

The rising popularity of cryptocurrencies alongside their mainstream adoption all over the world has opened up the crypto world to a broader audience. At the same time, crypto-assets present many interesting opportunities for expanding their savings and boosting their investments. As compared to holding your crypto assets, you can lend them for earning passive income on them. The following discussion would help you find out the answer to “what is crypto lending?” and how it works.

Enroll Now: Introduction to DeFi – Decentralized Finance Course

Traditional Lending Mechanisms

Before you try to find a crypto lending calculator, it is important to know the foundations of cryptocurrency lending. The best way to understand crypto-backed lending is to take a look at the traditional lending mechanisms. People generally take loans when they are short of cash and approach a bank or a finance company for loans. The borrowers must repay the loan to the bank or the company with a specified amount of interest. 

The bank or company could make money through the interest earned on the loans they provide to borrowers. In this case, you might wonder where the bank gets the money to lend to its borrowers. The answer is evident in the money deposited by other customers of the bank and in other financial instruments. So, the bank or the company is just working as a middleman between the actual lenders and borrowers.

Read More: How To Kickstart Career In DeFi?

What is Crypto Lending?

Imagine a scenario where you don’t have any middleman between the borrower and the lender. Crypto lending provides an alternative approach for investing your crypto assets, where you can lend cryptocurrencies or fiat to borrowers. You can earn interest on the cryptocurrency you loan to a borrower without any intermediaries. You can find various solutions which can help you give out a loan with your crypto assets and earn interest directly. 

Working of Crypto-backed Lending

The next important aspect in an introduction to crypto lending would obviously draw attention to its working. Crypto-backed lending processes generally leverage digital currency in the form of collateral, just like securities-based loans. The primary principle in crypto-backed lending is almost similar to that of an auto loan or a mortgage loan. You can pledge crypto assets to obtain a loan at specified crypto lending rates and pay back the loan over a specific period of time. The most common places to get such loans include crypto exchanges or cryptocurrency lending platforms. 

Borrowers can retain the ownership of the crypto they have used as collateral, albeit while losing some rights. For example, borrowers could not use the crypto assets for transactions or trade them. In addition, a substantial drop in the value of assets placed as collateral would imply that borrowers would have to pay more than the borrowed amount in event of a default on a loan. 

You can clearly notice that there are two distinct parties in crypto lending transactions, the borrower and the lender. The borrower takes on the responsibility for depositing crypto assets in the form of collateral for securing the lender’s investment. The lender would receive the interest from borrowers in return for the loan and have the assurance of the collateral. If the borrower fails to repay the loan, the collateral can compensate the lender. 

Also Read: An Exclusive List Of Crypto Wallets

Steps in Crypto Lending

Diving further into the steps involved in crypto lending from the perspective of lenders and borrowers could provide a better impression of the DeFi solution. Irrespective of the platform used for crypto-backed lending, the steps are almost the same in the view of borrowers and lenders. 

Borrowers have to go through the following steps. 

  • Register on the platform which offers crypto-backed loans and showcases the desired sum. 
  • The cryptocurrency lending platform would leverage crypto lending rates for calculating the amount of crypto required as collateral. 
  • Borrowers have to deposit the estimated collateral on the lending platform and apply for the loan. 
  • The platform verifies the borrower’s collateral and deposits funds in the account of the borrower upon the approval of their loan. 

On the other hand, the process of crypto lending is different from the perspective of lenders. Here are the steps for you if you are a lender of crypto.               

  • Lenders must select a specific interest rate. 
  • The lender offers crypto assets to borrowers and receives bonds in return. The bonds prove the fact that you have lent crypto to the borrower.
  • Lenders would receive additional bonds as interest.
  • You can recover your money after the agreed-upon time by sending back all the bonds. Lenders could utilize smart contracts for sending back the bonds and receiving crypto in exchange for the bonds. 

Reasons to Lend Crypto

Now that you know about crypto lending rates and how crypto-backed loans work, it is reasonable to wonder why you should choose crypto loans. Here are some promising reasons for which you should lend crypto to other people.

The clearly evident benefit for lenders in crypto-backed lending is the opportunity to earn interest directly. Lenders are more likely to get more crypto in exchange for the loaned amount. As a result, you can make better profits without investing any considerable effort. Furthermore, the crypto lending rates are considerably better than the ones for conventional savings accounts.

The most basic advantage of crypto lending is the flexibility to lend any type of crypto you want. Crypto owners can use the opportunity for lending stablecoins to expand their assets without any volatility risks. Basically, you would have a clear impression of how much you will get in return for your crypto assets. 

Enroll Now: Stablecoin Fundamentals Masterclass

Best Practices for Crypto Lending

Even if there are many opportunities associated with crypto asset lending, it is also reasonable to consider certain implications. For example, you need to find answers to doubts such as “How safe is crypto lending?” before you venture out. Here are some important pointers which can help you with crypto-asset lending. 

One of the foremost factors which can help you with crypto-asset lending more than a crypto lending calculator is research. Investing some time in doing your own research could help you identify suitable platforms for crypto loans. The best choice in such cases would refer to platforms or smart contracts with well-audited security and a favorable track record. 

The next critical factor among best practices for crypto lending refers to a detailed understanding of the loan’s terms. It is important to verify the time within which you can get back your crypto and the amount of interest. In addition, you should also check for any contingency plans which can help you in case anything goes wrong. For example, the lending platform should have provisions for taking collateral from borrowers or insurance for lenders. 

  • Understand the Implications

You should also take note of the implications such as “How safe is crypto lending?” and the consequences of having your crypto locked in the lending platforms. Furthermore, the best security measures in the world have not been able to restrict hacks in the crypto world. So, you should take some time to think over these things before investing in crypto loan platforms. 

Must Read: Know Everything About Crypto Wallet

Getting Started with Crypto Lending

The massive growth in attention on ‘what is crypto lending?’ has definitely encouraged many investors to participate in the idea. Here are some favorable options you can try out for getting started with crypto-based lending. 

You can rely on crypto exchanges and custodial platforms offering lending services, which are basically centralized services. The exchanges and platforms serve as middlemen, and you have to provide your private information for making accounts on these platforms. 

Another prolific approach for getting started with crypto lending refers to decentralized finance or DeFi protocols. The DeFi protocols remove the need for any middleman and use smart contracts for the management of loans. In addition, the smart contract would also automate transactions in accordance with the fulfillment of specific predefined conditions. Lenders do not have any possession over the crypto which they have lent as the assets would go into a smart contract. The well-audited smart contracts in popular DeFi protocols provide the assurance of security from any potential vulnerabilities. 

Enroll Now: Certified Enterprise Blockchain Professional (CEBP)

Bottom Line

The concept of lending your crypto to earn interest on it is definitely a favorable proposition. As a matter of fact, lending crypto could easily open new avenues for mainstream adoption of cryptocurrencies. In the longer run, crypto lending can evolve into one of the most prolific aspects of the transformation of financial services. 

Lending crypto assets offers a flexible approach for borrowers to obtain cryptocurrency or fiat money in return for their crypto assets. However, crypto-based lending is still limited to the developmental stages and might take some more time to gain prominence. Start discovering more about crypto-backed lending and its implications right now!


*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!





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