Yoda Labs Weekly Digest: January 19 - 25
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What Decentralized Finance is and How DeFi Works
July 7, 2021
MINS
Cryptonomics
Using modern technology like blockchain and cryptography, the financial world is primed for a complete revamp.
What is Decentralized Finance
Some of the most watershed moments in history involved changing what could be done in the palm of someone’s hand. From sparking a fire to Gutenberg’s printing press that brought reading to the masses, to the personal computer and smartphones. The purpose of technology is to facilitate ease of access and help individuals be more innovative, efficient, and productive. Accessibility to the masses facilitates technological change and advancement.
Decentralized finance (DeFi) is here to shatter the functions of traditional finance. Currently, the traditional finance industry is “centralized.” In the United States, the Federal Reserve is the single central authority that controls the entire monetary policy. Traditional finance is antiquated, and we have seen several examples of how it is highly manipulated and full of inefficiencies, fraud, and corruption. The system is also isolated and inaccessible to the masses.
DeFi and the onset of web 3.0 modernize the global financial system for the internet age. By adapting traditional finance to the capabilities of modern technology, we get transformative changes. DeFi open’s the door for all people to access a system impossible in traditional finance. It is a movement that creates a low-cost, fast, efficient, trustworthy, and transparent global financial ecosystem without a central authority. The system is also is highly accessible to anyone with a smartphone or internet.
The term DeFi has become a catch-all name for a growing list of financial products and services. By using cryptography, decentralization, and blockchain, DeFi is able to provide an open, fully decentralized, and transparent financial system. The products and services open an entire ecosystem of versatile utility and, most of all… fun! From names like UniSwap (Uni for Unicorn), PancakeSwap, BeefyFinance, AlpacaFinance, and so on, the potential for memes and fun is endless.
How Does DeFi Work
The central technology of DeFi comes through blockchain and cryptocurrency. Blockchain technology is the cornerstone of decentralized finance and makes the decentralization aspect of DeFi possible. Blockchains like Bitcoin or Ethereum are a collection of transaction data strung together in a chain of blocks.
Blockchains are decentralized, transparent, and immutable. The blockchain data is stored across different locations on a myriad of computers worldwide, making the chains decentralized. When it comes to transparency, blockchain data is permanently recorded on a public ledger, like BscScan, and anyone can verify the results. Imagine if the US Federal Reserve had a running ledger of how every tax dollar was allocated? Finally, cryptography and blockchain technology make each transaction fully immutable. The data cannot be changed, forged, or altered, and the chains cannot be unlinked.
Common Use Cases of DeFi
Bitcoin (BTC), Ethereum, and Binance Smart Chain (BSC) are currently the big three of DeFi. Bitcoin is the original and started as a new digital asset. Bitcoin’s white paper from Satoshi Nakamoto came in 2009. BTC was the first-ever peer-to-peer digital money and the first financial application built on blockchain technology. However, it was Ethereum which changed the world of DeFi and the entire world of crypto. While Bitcoin is a store of value blockchain, Ethereum is programmable and allows for the creations of new products and services through smart contracts. BSC is somewhat of a newcomer and is a near copy of Ethereum, intended for faster transactions and cheaper fees. While Ethereum is the top dog in the DeFi world, Binance Smart Chain and other chains are growing in size and ability.
Ethereum allows for data and blocks of the chain to contain rules to create contracts. Smart contracts are an essential function that replaces the role of a traditional financial institution in all cryptocurrency transactions. The smart contract is recorded on the blockchain and can be used to verify nearly any digital asset. Cryptocurrencies and their accompanying smart contracts provide services that don't need intermediaries. Smart contracts authorize transactions and carry out contracts within a trusted environment, eliminating the requirement of a central authority like a government, bank, or legal body.
Web 3.0 is the next generation of applications and protocols that bridge users to the decentralized world wide web. Below is a list of common use cases for DeFi applications and protocols.
Common dApps and Protocols on DeFi
- E-Wallets - Digital or hardware wallets that connect cryptocurrency exchanges and allow assets to be used on third-party platforms and protocols. Examples TrustWallet, MetaMask
- Decentralized Exchanges - Commonly known as DEXes, use blockchain technology and a network of computers to complete and verify transactions. Examples PancakeSwap, UniSwap
- Stablecoins - coins pegged to fiat that still experience high yields and growth without the volatile swings of many crypto coins. Examples: USDC, Tether, USDT
- Non-Fungible Tokens (NFTs) - crypto-collectibles that cannot be divided. They are forever unique and characterize scarcity associated with cryptocurrencies. Examples: OpenSea, Binance Marketplace
- Flash Loans - an uncollateralized loan option that enables users to borrow instantly and efficiently based on certain rules. Example MakerDAO and Aave
- Yield Farming - any blockchain protocol that enables any person with some holding of crypto tokens to ‘lock-up’ those holdings with a custodian(the protocol). In return, they distribute rewards. Examples: Compound, Beefy.Finance
Risks and Downsides to DeFi
With all the great upsides to DeFi, the phenomenon is still just beginning. Due to its early development, it is still vulnerable to several risks and downsides.
First, the industry is still working on mainstream adoption and recognition. At this time, there are still few consumer protections for DeFi users. Some exchanges like Coinbase keep their funds in banks protected by Federal Deposit Insurance Corp. (FDIC), but there are no protections for crypto-assets and no reimbursements if an exchange fails. Moreover, many protocols are prone to hacks and exploits. Codes can be unfinished and leave holes for exploitation. With few protections and platforms prone to hacks, there are clear and present dangers to engaging in DeFi.
Not all blockchains are created with the same degree of centralization. While not all DeFi apps are at the most decentralized, they work on teams gradually relinquishing control over their protocols. In the case of BSC, decentralization is negotiable, and the chain is proving that users may be willing to exchange some centralization for higher speeds and lower fees. Some users have also found strategies like yield farming to be highly skeptical but also prone to extreme volatility.
Ultimately, DeFi users control their fate. Users should never, under any circumstance, share a private key. Many victims of perceived fraud come from a user sharing their private key unknowingly to the wrong person. There is also no way to recover a lost private key. Once it is lost, it is lost. This can be a perceived downside of decentralization.
Building A Better Future
Traditional finance, which has barely seen updates from the analog computer days, is ripe for improvement. In today's world, central governments and financial institutions act as guarantors of transactions. This gives these institutions immense power over the money that flows through them. In a world where bankers and leaders of capital call the shots, DeFi products open up financial services to anyone with an internet connection. These protocols are also primarily owned and maintained by their users. This runs in stark contrast to a world where billions of people can't even access a bank account.
So far, tens of billions of dollars worth of crypto have flowed through DeFi applications, and it's growing every day. The platforms are permissionless and allow access to anyone with an internet connection. It has properties that can disenthrall citizens of the world. DeFi and the projects it has can become the unsung hero of a better financial future. Today, you might put your savings in an online savings account and earn an interest rate of less than 1% on your money. With DeFi, people lend their savings directly to others on a decentralized exchange, cut out the middleman and retain higher profits than ever imagined in centralized finance.
Blockchain and DeFi are ushering in the birth of a whole new economy. It is creating a path of least resistance to solve the world’s financial troubles. After a pandemic that sped up the technological literacy of the world, we are at the cusp of the potential of blockchains and DeFi. Beyond Bitcoin, we have seen the enormous growth of DeFi blockchains like Ethereum and Binance Smart Chain. DeFi is proving to be the rising tide that capitalist thinkers have championed for decades. The dogmas of traditional finance are inadequate for the future of DeFi.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
Disclaimer: This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News 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 in the AMA.
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Blockchain News
Yoda Labs Weekly Digest: January 19 - 25
January 28, 2023
Get the inside scoop on the hottest Web3 gaming trends and movements in our weekly Yoda Lab newsletter.
Yoda Labs Weekly Digest
- Great games are on the way in 2023 Says Animoca CEO
- Unveiling of its trailer, Oath of Peak recorded pre-registration of 500k players
- BigTime is going BIG with rewarding payers and holders
- You can now play games using your Ledger wallet. Could this be the future?
- 69% of respondents believe the metaverse will reshape social lifestyle - do you agree?
- Web3 will push online gambling to grow to $300 billion, and investors are committing big $$$ to funds
Web 3 Gaming News 🎯🎮
- As gamers begin to accept the dynamics of web 3games, Animoca Brands CEO, Robby Yung believes many great games are to come in 2023.
- Oath of Peak, one of the most ambitious gaming projects in Web3 has over $20 million invested, reports the pre-registration of more than 500,000 players.
- Generating more than 1 million monthly transactions, the biggest NFT-based strategy game on Polygon Planet IX,’ will join Chainlink BUILD programme to aid in distributing in-game goods at random.
- Big Time is looking to reward NFT holders and active players in a BIG way. Their planned airdrop includes 100k Utility NFTs distributed over eight months based on Collectible holdings and game playtime.
- With a proven track record of delivering games, the team behind game studio Spacewalkers is redefining how investors can share in the project's profitability.
- Metalands Alpha 2.0 will bring the first taste of Hybrid Battle Royale to the public and there is still time left to register. The FPS game introduces a new PvP mode adding a twist to the idea of battle royale.
- Launching on 31st January, soulbound reward cards coming to Splinterlands. This new reward set edition is associated with Chaos Legion and consists of 43 cards.
- Champions Ascension minting is now live for Prime holders with public free mint from Jan 26th featuring the second highest tier Characters.
- Minting is now live for Prime holders with public free mint from January 26th. The second NFT mint for Champions Ascension is a free mint featuring the second highest tier Characters.
- Having recently sold land plots and built on the BNB chain, the third city map for Mega World is nearly ready. Opening to players on February 15th special packs, new buildings, and cross-chain features will be made available.
- Twitch founder's 'fractal' gaming nft marketplace on polygon is launching with 30 partners and is looking to land on other EVM chains too.
- Built on the Lyra engine in Unreal 5 and with the aim of becoming the Fortnite of web3, free-to-play FPS, FORA launches its first game and is inviting beta testers to participate.
- Runner will exist as a comic book, an NFT profile picture (PFP) project, possibly a video game, and eventually a TV show under Unkeless’ production company Clubhouse Pictures.
- Eyes on the prize, Delphi Digital is specifically watching these teams and games - should we be watching them too?
- Cometh Battle is a card battle game with a twist. It needs a Ledger wallet and could position Ledger as an alternative gaming app store to Apple and Steam.
- With their "Last Chance Saloon," SinVerse has decided to give consumers one last opportunity to wager SIN tokens through a 2.5M SIN token prize pool, and whitelist opportunities for the land sale.
Web3 Gaming Trends 🔥🚀
- Is Tokenizing simulated live gameplay the future of web3 gaming? Having worked with Marvel, Lucasfilm and Disney Marc Seal CEO of Sortium certainly thinks so.
- With Slot Hunter Casino leading the way, web3 technology has the potential to revolutionize online gambling by providing a secure, trustworthy, transparent platform for gaming.
- Co-founder of Illuvium discusses the ability to engage a mass audience as casual mobile games are the easiest step into gaming. Is this a trend that everyone is missing?
- According to the Delphi Digital 2023 report, long-term multiple company partnerships are becoming a trend to address the lack of an ecosystem of publishers for web3 games.
- PlayFi monetization methods via metagames is the perfect approach for web3 games find out why.
Exploring the Metaverse 🛸🤖
- Decentral Games targets web3 natives and continues to adjust its play-to-earn rewards structure to limit ICE inflation as Messari shares its findings in their report titled the State of Decentral Games Q4 2022.
- As the metaverse continues to develop, it will have the possibility to impact social life in a more tangible manner. A new survey from CoinWire, found 69% of respondents have placed their bet on the metaverse to reshape social lifestyle.
- LandVault has worked on 200+ metaverse activations developing virtual land for platforms such as Roblox, Sandbox and Decentraland has announced it has signed with top talent agency Creative Artists Agency to weather the bear market.
- A new take on Metaverse gaming as RobotEra allows users to create NFT-based land, structures, and in-game items, develop new metaverses, and connect with other NFT communities.
- UN Environment Programme (UNEP), aims to use the metaverse to increase reach has released a new game called Apollos Edition teaching worldwide players aged 13- 18 about environmental education.
- Aiming to drive dog adoption pet food company Pedigree has created a program called the Fosterverse, allowing Decentraland property owners to “foster” digital versions of real-life rescue dogs.
Funding in Gaming, and the Metaverse Space 💸💰
- Looking to capitalize on real money-wagering, a sector that is looking to grow from $70 billion to $300 billion, Courtside Ventures raises $100M fund for sports, collectibles, wellness, and gaming.
- Digital Village, the metaverse developer, aims to take the friction out of the experience. Powered by VeChain, the technology platform has raised $4 million thanks to L’Oreal’s VC – BOLD and the British Fashion Council.
- With 150+ million fans worldwide, players can now raise their pets in the metaverse as Neopets raises $4 million from industry leaders such as Polygon, Haskey Capital, and Blizzard Avalanche Fund.
- Gaming Breaks $100 billion total announced activity with 431 total blockchain gaming deals this is a 224% increase from a year earlier.
- Last valued at $1.25 billion, Mythical Games eyes $50 million raise and integrates the technology of NFT marketplace DMarket.
- Animoca Brands Japan funds Psychic VR Labs with 100 million Japanese Yen to help fast track the vision of ‘realizing the world where people wear a space'
- Netmarble's MARBLEX has provisionally signed up with Binance to to bolster its infrasture to push on with MBX 3.0 and enchance the MBX ecosystem.
- Charging $7,500 per masterclass, Gemba's Metaverse training software is utilized by Nike and Carlsberg raises $18 million in a Series A financing led by Parkway Venture Capital.
Where to find Yoda Labs:
Disclaimer: This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News 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 in the AMA.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
Don't forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for BNB Chain and crypto.
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Binance Research: 2023 Is Looking Up Despite Q4 Market Cap Decrease
January 28, 2023
The Binance Research team outlines downtrends across several verticles but sees a small boost to begin 2023.
Binance Research Quarter 4 Report
A team at Binance Research released its State of Crypto: Market Pulse report for Quarter 4 of 2022. Consisting mostly of graphs and data, the report highlighted how the year ended with a general downward trend, but several indications show a strong 2023 could be on the way.
The 45-page report of slides, released on January 27, reviewed several key verticles across the industry and gave a general assessment of the industry’s end-of-the-year performance. The overall market pulse is still positive despite the 15% decline in the market capitalization of the industry.
Here are some of the trends from industry verticles in the report:
- Layer 1s: General downtrend with Solana as an outlier
- DeFi: Long downtrend across 2022
- Non-Fungible Tokens (NFTs): Down in Q4 but up for all of 2022.
- GameFi: Dominates Web3 with 80% market share.
Despite the overall downward trend in the market, Binance Research sees a small pick-up to begin in 2023. Prices have been readjusted and the bottom appears to be in.
Read the full report from the researchers JieXuan Chua, Shivam Sharma, Kaushik Guduru, and Mac Naggar here.
What is Binance Research:
Binance Research is the research arm of Binance, the world's leading cryptocurrency exchange. The team is committed to delivering objective, independent, and comprehensive analysis and aims to be the thought leader in the crypto space. Our analysts publish insightful thought pieces regularly on topics related but not limited to, the crypto ecosystem, blockchain technologies, and the latest market themes.
Where to find Binance Research:
What is Binance:
Binance positions itself as the world’s leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The Binance platform aims to increase the freedom of money for users and features a comprehensive portfolio of crypto-asset products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization, and infrastructure solutions.
Where to find Binance:
Website | Twitter | Discord | Telegram |
Disclaimer: This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News 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 in the AMA.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
Don't forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for BNB Chain and crypto.
Follow us on Twitter and Instagram!
If you need tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, cryptonomics explainers, and Trading Tool Kits from BSC News.
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If you need tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, cryptonomics explainers, and Trading Tool Kits from BSC News.
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Core DAO Integrates With Switchboard for Permissionless Data Connection
January 27, 2023
Core DAO partners with Switchboard to give developers access to on-chain and off-chain data.
Core DAO Announce Partnership with Switchboard
Following its recent integration with LayerZero, Core DAO has announced its partnership with Switchboard, empowering developers to access secure and permissionless connections to on-chain and off-chain data.
Core developers will leverage Switchboard’s oracle network to gain data such as sports, weather, price, and more. Core DAO notified users about the collaboration on January 27 through Twitter.
We’re excited to announce our integration with @switchboardxyz 🤝
— Core DAO (@Coredao_Org) January 27, 2023
This integration empowers developers to access secure and permissionless connections to on-chain and off-chain data.
Read more here: https://t.co/ssmF1eFBTg#CoreDAO #SatoshiPlus
Switchboard is a permissionless multi-chain oracle protocol for general-purpose price feeds. The collaboration will give developers the tools like Publisher and Explorer to manage and build their data fields. Through an official Medium announcement, Core DAO expressed delight at the collaboration.
“Switchboard grants Core developers access to data that is otherwise unavailable and increases the scope of applications that can be created with both on-chain and off-chain data. We’re excited about this partnership and empowering developers to build on Core,” the blog read.
Blockchains need oracle networks to access any data. The partnership with Switchboard will provide access to data for developers and contribute to the protocol’s development in the industry. In the meantime, Core is working on launching its native oracle solution, which promises to exceed traditional blockchain capabilities.
Read more about the collaboration in the Core DAO Medium announcement.
What is Core DAO:
Core DAO is the official decentralized organization developing the Satoshi Plus ecosystem. It represents an opportunity for miners to access new revenue streams by contributing hash power to the chain. Inspired by the principles of both blockchains, Core displays a deep appreciation for the history of the crypto ecosystem paired with an even greater excitement for Core’s role in its future.
Where to find Core DAO:
Website | Docs | Twitter | Discord
Disclaimer: This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News 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 in the AMA.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
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Author
Blockchain News
Core DAO Tweets Clarifications About Consensus Mechanism In Wake of Launch
January 27, 2023
The Satoshi Plus consensus mechanism combines PoW and DPoS to achieve a scalable, secure, and decentralized blockchain.
The Satoshi Plus Consensus
Core DAO broke into the Decentralized Finance (DeFi) space with its Satoshi Plus consensus mechanism, solving the blockchain trilemma—Decentralization, security, and scalability.
To remind users about the revolutionary solution, Core DAO published a Twitter thread on January 27. The Satoshi Plus consensus combines Bitcoin’s Proof of Work (PoW) network and Ethereum’s Delegated Proof of Stake (DPoS) to solve the blockchain trilemma.
The consensus of a chain creates its foundation. PoW and PoS do not need to be opposing methodologies. Properly implemented, the two should work in harmony.
— Core DAO (@Coredao_Org) January 27, 2023
A 🧵below 👇 #SatoshiPlus #CoreDAO
In summary, Core DAO’s thread was published to remind the community Satoshi Plus Consensus mechanism combining PoW and PoS:
- Anyone can participate in a PoW consensus mechanism.
- PoW takes abundant energy and molds it into scarcity. Combining energy and scarcity creates value that anyone can create and earn.
- PoS mechanism without PoW tends towards centralization, ensuring users pay early adopters to participate.
- They restrict network governance to a small group, which is more similar to a corporation than truly crypto-enabled decentralized governance.
- The Satoshi Plus consensus solves the issue of centralization from the PoS inflexibility by combining the openness of PoW.
- The consensus mechanism allows PoW and PoS to work in harmony.
BSC News explained the Core DAO revolutionary blockchain, including the Satoshi Plus consensus. You can learn more about the network in this article.
What is Core DAO:
Core DAO is the official decentralized organization developing the Satoshi Plus ecosystem. It represents an opportunity for miners to access new revenue streams by contributing hash power to the chain. Inspired by the principles of both blockchains, Core displays a deep appreciation for the history of the crypto ecosystem paired with an even greater excitement for Core’s role in its future.
Where to find Core DAO:
Website | Docs | Twitter | Discord
Disclaimer: This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News 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 in the AMA.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
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Author
BSC News
Binance Angel: “Binance Is A Big Entity--But Like a Family”
January 27, 2023
Binance Angel speaks about the great reception and his casual encounter with CZ.
Binance Angel Shares His Story
Binance shared a short interview video of Binance Angel Mikki Nielsen, who divulged his crypto past and how he became a Binance Angel.
Nielsen opened up in the Binance interview, explaining how he has been involved in crypto since 2011, when he first got into bitcoin but only recently heard about Binance last year. Once he learned about Binance and Binance Angels, Nielsen admits he felt like he had found a big family. He even describes his “casual” meeting with Binance CEO Changpeng Zhao.
Take a look at the short interview shared through Binance’s social media.
Meet @MikkiNielsen4, a long-serving member of the @BinanceAngels team.
— Binance (@binance) January 27, 2023
Watch this video as he takes us on a journey through his experience since becoming a #Binance Angel and what he enjoys the most about it! pic.twitter.com/e9DvfIRJcU
What is Binance:
Binance positions itself as the world’s leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The Binance platform aims to increase the freedom of money for users and features a comprehensive portfolio of crypto-asset products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization, and infrastructure solutions.
Where to find Binance:
Website | Twitter | Discord | Telegram |
Disclaimer: This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News 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 in the AMA.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News 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 in the press release.
Don't forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for BNB Chain and crypto.
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Disclaimer: This article is exclusive BSC News Premium Content. Premium content is viewable without a membership for a limited time. After the limited time period expires, readers will need to either subscribe or hold a BSC News NFT to view Premium Content. Visit the BSC News NFT website, Discord, and Twitter to learn more about becoming a Premium member.
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