Category: AI

TheongoinglawsuitbetweentheUSSecuritiesandExchangeCommission(SEC)andRippleLabsInchascontinuedtotakenewtwists.AgainstthehighlypublicizedspeculationthattheUSSECmissedthedeadlinetofileFormCforitsappeal,oneoftheregulator’sspokespersonshasconfirmednothinghaschanged. Similarnews(1) Addsimilarnews USSECtakesnextstepsinitsappealagainstearlierRipplerulingascaseforgeson theblock.co 1h Addsimilarnews Sendusalinktoasimilarnewsstoryonanothersource. Link Whydoweneedit Thecitationrateofanewsitemindicatesitsimportanceandsignificance.Thenumberofmentionsindifferentsourcesallowsyoutolookataneventfromdifferentangles. Pleasehelpusimprovetheapplication.Ifwehavepublishednewsandyouhavefoundasimilaroneinanothersource,sendusalinktoit. Send

ShibaInucoinonceagaincaughttheeyesofcryptomarketenthusiastsastheSHIBteamconfirmsthattheecosystemiseyeingatransformativeshiftahead.OnThursday,themarketingleadhighlightedthattheShibDoggyDAOandFoundationlaunchremainsimminent.ThisannouncementcomesjustdaysaftertheteamannouncedtheMemeCoin’spartnershipwithMassFinance.

Worldcoin,thedigitalidentityprojectsupportedbySamAltman,isrebrandingtoWorldNetwork,nowsimplyknownas“World.”ThistransitioncomeswiththeofficiallaunchofWorldChain,aLayer2blockchainontheEthereumnetwork. AttheeventinSanFrancisco,AltmanandBlania,thecompany’sco-founders,presentedseveralnewfeatures,includingenhancementsintheWorld’sOrbtechnology.TheOrb,initiallydesignedforirisrecognition,isreceivingasignificantupgrade. NEW:@worldcoinREBRANDSTO“WORLD” pic.twitter.com/ateCUQDXVb —DEGENNEWS(@DegenerateNews)October17,2024 World’snewfeatures ThenewversionwillincorporateNvidia’slatestJetsonchipset,whichoffersalmostfivetimestheAIprocessingpowerwithfewercomponents.ThisenhancementwillenabletheextensionoftheuseofOrbviaself-servicekiosks,whichwouldbeaconvenientwayforpeopleacrosstheglobetoaccesstheservice.ChiefdesignerHenryHeleysaid,“Peoplewillalsobeabletosummonorbstotheirhomethroughanapp,muchlikeapizza.” Thecompany’skeyproductistheIrisScanningtechnologythatthecompanyemploysfortheidentificationofhumanusersfrombots.Thisisevenmoresogiventhefactthatartificialintelligenceisstillrelativelynew.However,Worldisexpandingitsapproachandgivingitsusersmorewaystoberecognized. BesidestheupdatedOrb,Worldofferednewwaystojoinitsidentityprojectwithouttheuseofirisscans.OnekeyalternativeistheabilitytouseanNFC-enabledpassport. ThisNFC-basedpassportallowspeopletoprovetheircitizenship,age,andpassportpossessionwithoutrevealingtheiridentity.ThecompanyisalsoplanningtoextendtheuseoftheidentityverificationtechnologytoothermessagingapplicationslikeFaceTime,WhatsApp,andZoom.Additionally,thecompanyisupdatingitsmobileapptoenable“mini-apps”fromthird-partydevelopers. World,whichwaslaunchedinJuly2023,hasalreadymanagedtocreateaglobaluserbase.Withmorethan10millionsignupsand7millionverifiedusers,thenetworkisalreadypopularacrosstheworld.AltmanandBaniastatedthatthecompanyaimstoincreasethisfigureto700millionormore,saying,“Everytwoseconds,apersonjoinsthenetwork,andthisisstilljustthebeginning.”Afterthepresentation,theworldcointoken(WLD)droppedbyabout5%,anditiscurrentlytradingat$2.14. cryptopolitan.com

Arkhamisworkingonsecuringafree-tradezone(FTZ)licenseintheDominicanRepublic.Thepermitwillallowittobenefitfromvarioustaxexemptionsandfiscalincentivesofferedunderthecountry’sFTZregulations. Itisnominorundertaking;manyotherexchanges,someofwhicharestillaroundtoday,arestilltryingtodothatwithlittleluck.SowhatmakesthenewplatformArkhamplanstobuildsodifferentthattheybelieveitcanthreatenBinance’sholdonthemarket? WhatweknowaboutArkham’scryptoderivativeplatform ArkhamIntelligenceispreparingtolaunchitsowncryptocurrencyderivativesexchange,whichwillgoliveinNovember2024.Theproposedexchangewilltargetretailinvestors,andovertime,ArkhamaimstocompetewithmajorplayerslikeBinance. ArkhamalreadyhasthebackingofnotableinvestorslikeOpenAIfounderSamAltman,anditplanstobaseitsoperationsinPuntaCana,theDominicanRepublic,anareaknownforfavorabletaxregulations. Unfortunately,thankstoU.S.regulatoryconstraints,thenewplatformwillnotbeaccessibletoU.S.users.Itiswillinglyrelinquishingalargechunkofpotentialcashflowfromamarketknowntobeincrediblyliquid. However,reportshaveittheexchangehasbeenindevelopmentoverthepastyearandisactivelyraising$100milliontoscaleitsoperations.So,itprobablyhasaplaninplaceifitwon’tevenattempttotakeashareoftheUnitedStatesmarket.There’scertainlysomemerittolookingoutsidetheU.S.foritsuserbase. WealsoknowtheinitiativewilloccurafterthecompanyrelocatesfromitscurrentLondonandNewYorkbases. WhatwillArkham’sexchangedodifferently? ArkhamIntelligence’sultimategoalincreatingthenewexchangeistochallengethemajorplayersinthetokenexchangemarket,whichbegsthequestion:Howwillitstandout? Manyderivativeexchangesaredoingokay,butfewarenearBinance’sstandards. IfArkhamplanstobreakoutanddosomethingthatexchangeslikeOKXandBybithavefailedtodosofar,itwillneedtodomorethanprovideauniqueexperiencespeciallycateredforretailinvestors. Tobefair,Arkhamalreadyhasafewthingsgoingforit. Taxandregulatorybenefits:Asearlierstated,ArkhamwillbeoperatingfromtheDominicanRepublic,whichmeanstheexchangewillbenefitfromfavorabletaxlawsandfree-tradezone(FTZ)advantages.ThismayallowittooffermorecompetitivepricingandincentivesforusersoutsidetheU.S. Advancedderivativesproducts:Arkham’snewexchangeaimstoexposeinvestorstoawiderangeofcryptoderivatives,similartofuturesandoptionsonplatformslikeBinance.Thisincludescontractstiedtopopularassets,withpotentialofferingsinsmallerdenominations,similartoproductslikeBitcoinnano-futuresonotherexchanges. High-volumetradingcapacity:Arkhamhashadoverayeartoworkonitsexchange,soyouwouldexpectittointroducesomethingnewtoallowittohandlesignificantvolumes.Thiswillbecrucialtogainingacompetitiveadvantageinaboomingcryptoderivativesmarketthataccountsfor71%oftotalcryptotradinginSeptember2024. Brandimageandmarketing:Arkham’snewexchangewillenjoythecompany’sbrandreputation,whichithasbeenactivelybuildingasasentryoftransparencywithinthecryptospace.Outsidethespace,ithasbeenbusyaswell.The€1.8millionsponsorshipdealwiththeTurkishfootballclub,Galatasarayimmediatelycomestomind.Partnershipslikethatareexpectedtoenhanceitsvisibility,makingitanevenmoreattractiveoptionforusers. Investorsupportandgrowthplans:ArkhamenjoysthebackingofnotablefigureslikeSamAltmanandcompanieslikeBinanceLabs,andsowillitsnewexchange.TherearetalksaboutArkhamraising$100millionfromMiddleEasterninvestorstoexpanditsoperationsfurther.Withsuchsupport,ArkhamwouldneedineptitudeatlevelssimilartoFTXtoevenremotelybeatriskofcapsizing. Blockchainanalyticsperks:Arkhamisalreadyfamousforitsblockchaindataanalyticsplatform,whichmonitorsandanalyzesblockchaintransactions.Itsbackgroundindataanalysiscouldenhancethenewexchange’ssecurity,transparency,anduserinsights,allowingittostandoutfromotherplatformsthatlacksuchcapabilities. Thesefeatures,combinedwithArkham’sexistingdataanalyticsplatformandgrowinguserbaseofmorethan800,000activemonthlyusers,mayjustbeenoughtomaketheupcomingArkhamexchangeaformidableupstartinthecompetitivecryptoderivativesspace. WhetheritwillbeenoughtothreatenBinance’ssupremacyisanotherquestion—onethatitsinvestorshopeisansweredintheaffirmative. HowdoestheproposedexchangecomparetoBinance? Binanceisatthetopofthegameforgoodreasons.Theexchangehasmostoftheanswersregardingtradingoptionsforusers,includingfutures,options,perpetualcontracts,andleveragedtokens. Whilestillindevelopment,Arkham’sexchangeisexpectedtooffersimilarfeatures,butithasn’trevealedthefullextentofitsservicesjustyet. Ofcourse,speculationabounds,andeveryoneexpectsArkhamtoleverageitsresourcesasadata-trackinggiant.Besidesthatandotherstandardcryptoderivativeexchangefeatures,nooneissureifArkhamhasasurpriseusecasethatwillputthemintheleagueofBinanceandotherexchangegiants. Nevertheless,amongtheestablishedfeaturesBinancecurrentlyoffers,therearesomeArkhamcantweaktoprovidebetteroptionsforusers.Forexample,Binanceofferstradersupto125xleverageonsomefuturescontracts,avalueonlyafewexchangeslikeOKXandHuobihavebeenabletooffer. FTX,beforeitsdownfall,offeredasmuchas101xleverage,butthatvaluefellto50xafterthescandalinvolvingSamBankman-Fried.TheleverageArkhamwillofferhasnotbeendisclosed,butitisonewaythenewexchangecanlodgeitselffirmlyintheleagueofgiants. TheworldisnowwaitingtolearnmoreaboutArkham’snewexchange,butoneareawhereitwillmostlikelybeatBinanceisaccess,pricing,andfees. Binanceoperatesglobally,albeitwithever-increasingregionalrestrictions.Arkham’sexchangewillfocusonnon-U.S.markets,anditshouldlooktotakeadvantageofpricing,thankstoitslocationintheDominicanRepublic. Arkhamcouldnothavechosenabettertime…

Ripple’sXRPhasshiftedtoBinance,wherewhaleshavebeenmakingdepositssince2021.XRPisstillalong-termbetforrapidappreciation,raisingnewhopeswitheachbullcycle. XPRwhalespreferBinancefortheirdeposits.Since2021,reservesonBinanceincreased,despitethepruningofliquiditypoolsandpairs.Whalesstartedmoreactivedepositsthreeyearsago,andBinanceremainsthepreferredmarket,withsignificantXRPreserves. Morethan14%ofallXRPtradingisconcentratedinthetwoavailableBinancetradingpairs,makingtheexchangeasuitablehubtobetonXRPvolatility.AccordingtoCryptoQuant,thedepositsacceleratedinthelastmonthsof2021,andwhalesdidnotmoveawaytheirXRP,keepingtheassetsreadyfortrading. OneofthereasonsforthedepositsisthatBinancestillsupportsXRPstaking,despiteremovingsomeofthetradingactivitiestoavoidUSregulatorylimitations.AfterXRPrelaunchedonBinance,thosewhalesstillkepttheirbalancesontheexchangeanddidnotmovetoothermarkets. Atthesametime,otherwhaleskeptmovingcoinstosmallerexchanges.ThemostpopularmarketsforanonymouswhaleswereBitso,Bitstamp,andBybit.AfterXRPrallied,onewhalesentmorethan$11MinXRPtotheBitsoexchange. Binanceremainsalarge-scaleXRPholder XRPwasrelistedonceagaininthesummerof2023,thoughBinanceshiftedtheavailablemarkets.SinceMay2024,BinanceFuturesdiscontinuedsupportforXRPmarkets. BinancecarriesXRPinatotalofeightwallets,becomingoneofthelargestholdersafterRippleitself.TheBinance4wallethasthelargestholdings,at1,477,168,713XRP,valuedatmorethan$805M. Intotal,Binance’swalletscontain3,126,845,450XRP,valuedatmorethan$1.7B.Theamountiscomparativelysmalltothe99.99BtotalsupplyofXRP.However,thetokenisalsolockedorheldforthelongterm,limitingthecirculatingsupplytoabout50B. Binancewhalesarethuswell-positionedtomakeuseofXRPrallies,astheassettriestoreclaimahigherrange.YetXRPskepticsalsobelievesomewhalesmayexertsellingpressuretokeepXRPartificiallylow. XRPlawsuitmayendafterUSSECmissesappealdate AttentionisshiftingbacktoXRP,afterthedeadlineforappealingpassed,andtheUSSecuritiesandExchangeCommissiondidnotfiletoextendthelawsuit.ThisleavesRipplewithsufficientproofthatXRPisnotanunregisteredsecurity,openingthedoorstorenewedtrading. Thebigquestion,however,iswhetherXRPwillbeagoodinvestmentwitheitherutilityoratleastspeculativepotential.OneoftheworriesisthatXRPhasdriftedsidewaysforyearswithoutbreakingout,andhasnotgonefarabove$1since2017. Inadditiontothenewsaboutthelawsuit,XRPgainedattentionattheRippleSwellconference.Ripplestateditspotentialpathofdevelopment,aimingtoincludestablecoins,payments,tokenization,andsafecustody. In2024,RipplestillcatchesupwithsomeofthedevelopmentsinDeFiandretailcryptousage,whilestillaimingtoservebanks.XRPitselfmaynotbenecessaryinsomeusecasesofRipple’snetwork,soglobaladoptionwillnottranslateintoglobaldemandforXRP.Additionally,RipplehassupplieditspartnerswithXRPtokens,sobanksandpaymentinstitutionswillnotbuyXRPontheopenmarket. Inthepasttwoyears,XRPhasrangedbetween$0.40and$0.68,withbreakoutsquicklyerasedthroughselling.XRPhaswaitedlongforabreakoutfromthoselevels,butnotevenfavorablenewsaboutthelawsuithashelped.Irrationalandoverlyoptimisticscenariosstillaboundonsocialmedia,seeingXRPrallyto$10. XRPhadasmall-scalerecovery,withopeninterestreturningabove$590M,thehighestlevelsinceApril.XRPtradingvolumesremainbetween$1.2Band$1.5B,stillundertheir2018and2021peaklevelsabove$5Bin24hours. cryptopolitan.com

Worldcoin,theprojectco-foundedbyOpenAICEOSamAltman,isbrandingto‘World’andlaunchinganewversionofitscontroversialiris-scanningOrb. Altman,alongsideToolsforHumanityCEOAlexBlania,introducedtherebrandingandupdatestoitsWorldIDandWorldAppduringakeynotepresentationonThursday. “Weknowitsoundscrazy,butitisthatWorldcoinasthenamejustdoesn\'tworkanymore,”Blaniasaid.“Startingtoday,whathasbeencalledWorldcoinwillbejustcalledWorld.” AccordingtoAltman,theredesignedOrbhas30%fewerpartsandtripletheproductioncapacityofitspredecessor.PoweredbyNVIDIA’sJetson,thenewOrbcanperformAIoperationsfivetimesfasterthanearliermodels. “ThisenablesthenewOrbtoexecutesophisticatedAImodelsthatprovehumannessandoperateentirelyondeviceandevenfasterthanbefore,”Altmansaid.“ThenewOrbwasbuiltwithmoretransparencyandtheabilitytoauditthecodethat\'srunningonit.” Withbotsfloodingtheinternet,ToolsforHumanitydesignedtheiris-scanningOrbsasawayforpeopletoprovetheyactuallyexisted. ThefirstOrbswereplacedinBerlin,Germany.Inadditiontoproviding“proofofpersonhood”inlimitedregions,theOrbsalsogaveaccesstotheWorldcointoken. LaunchedinJuly2023byToolsforHumanity,theWorldOrbsweremetwithfascinationandscorn,asprivacyadvocatescalleditasurveillancetool.Shortlyafteritslaunch,FranceandGermanyopenedinvestigationsintotheprojectanditsOrbs. AltmanandBlaniahavesoughttoresolvefutureissuesbyimplementingfeaturesdesignedtoassuageregulators’andpolicymakers’concerns. “IthasafullyremovableSDcardthatcontainsalltheoperatinginstructionssothatanyonecancomparethoseinstructionsontheSDcardversusourpublishedsourcecode.” InMarch,inresponsetoprivacyconcerns,AltmanannouncedtheOrb’scorecomponentswouldbecomeopen-source,withitscodepublishedonGitHubforpublicscrutiny. InadditiontohardwareupdatestotheOrb,duringthepresentation,AltmanandBlaniaalsointroducedupdatestotheWorldIDandWorldapp. “WorldIDwillbetheanonymoushumanlayerfortheinternet,”Blaniasaid.“Butthere\'salotofdetailsthatgointomakingthatactuallywork.” AccordingtoToolsforHumanity,tobetterprotectusers\'securityandprivacy,WorldID3.0usesanonymizedmulti-partycomputationtostoreuserdataacrossmultipleparties.WorldIDwillalsosupportgovernment-issuedidentificationlikepassportsanddriver’slicenses. VideoAIdeepfakeshavebecomeanincreasinglydangerousformofphishing,withhackerscreatingfakeimagesofCEOsandmanagerstodupeunsuspectingvictims.Tothataffect,Worldisintroducinganewfeaturecalled\"DeepFace.\" Thetoolwillcomparereal-timeandstoredimagestoverifyauser’sidentity,ensuringthatthepersoninteractingwiththeOrbisthesamepersonwhoinitiallysignedup.ToolsforHumanitysaidDeepFaceiscompatiblewithpopularvideocallapps,includingFaceTime,WhatsApp,andZoom. TheWorldAppisalsoreceivingnewupdates,includinganew“mini-apps”tabthatallowsuserstodownloadthird-partyapplications.Userswillbeabletosearchforothersbyusernameorconnectwiththeircontactlists. ToolsforHumanityHeadofProductTiagoSadahighlightedtheapp’sbroadaccessibility,includingsupportforoveradozenlanguagesandmorethan50currencies,aswellasitscompatibilitywitholder-generationmobilephones. “Ifyouwanttobuildanetworkthatcanreacheveryone,youhaveanapp,”Sadasaid.“Youneedtohaveanappthatworksforeveryone.” EditedbySebastianSinclair decrypt.co

AccordingtoanewreportfromHelikaonTelegramgames,engagementwithNFTsandlongerplayersessionsincreasedinTelegram’sgamingecosystemduringQ32024. ThenumberofuniquewalletstransferringNFTssurgedfrom200,000toover1millionduringthequarter,perthereport,with600,000walletsactivelyinvolvedinNFTtransactionswithingames. PlayersalsospendmoretimeplayingTelegramgames.Thereportshowedthataveragesessionlengthsnearlydoubledfrom2.8to6.7minutes,suggestingthatimprovedgamedesignkeepsusersengaged. RegionaldataindicatesashiftinTelegram’sgamingaudiencecomparedtootherWeb3platforms,with55.91%ofplayerscomingfromEurope,incontrasttoAsiaandLatinAmerica,whereWeb3gamingtraditionallythrives. IncreasedengagementonTelegramgames Perthereport,Catizencompleteditsfirstairdrops,distributing34%ofitstotaltokenallocation,whichincluded150milliontokensdistributedinSeptember2024alone.Theairdropincreasedactivity,reflectingitsintegrationintoTelegram. InSeptember,BinancelistedCatizenontheBinanceLaunchpool,allowinguserstofarmthegamingbot’snativetokenaheadoftrading. LikeCatizen,Gameeexperienceda300%increaseinvolumeandtransactionsmonthovermonth,showingmoreplayersandengagement.XEmpireattractednearly48millionplayers,with18millionconnectingtheirwalletstoengagewiththegame’sfeatures. Accordingtothereport,RockyRabbithad30millionplayers,andBananareached10millionusersbyOctober.Wontonuserssurpassed1millionwithinitsfirstweek. However,thereportalsohighlightedchallengesfacedbydevelopersasnewgamesfloodtheplatform.Smalldevelopmentteamsstrugglewithlimitedmarketingbudgetsandattractingusers.Developersareexpandinggamegenresandintroducingawidervarietyofexperiences,suchassimulations,RPGs,andpuzzles,indicatingthatTelegram’sgamingecosystemisevolvingbeyondsimple,casualgames. crypto.news

Worldcoin,newlyrebrandedWorld—thecrypto-fueled,eyeball-scanningidentityplatformco-foundedbyOpenAICEOSamAltman—launchedthemainnetforitsownEthereumlayer-2networkcalledWorldChainonThursday. WorldChainisrollingoutwiththegoalofbringingmillionsofverifiablehumanusersontotheblockchain,inadditiontopromotingthedevelopmentofdigitalidentitytoolsandapplicationsthatpromotefinancialfreedom,itscoreteamtoldDecrypt. Manyblockchainsaredominatedbybots,WorldadvisorLiamHornetoldDecrypt.ButWorldChainhopestoservethekindsofuserswhotheprojectbelievesstandtobenefitmostfromblockchaintechnology:humanbeings. “Onalotofchains,there\'smorealgorithmictradingbotsthatarekindofmovingmoneyaroundonchainsthanpeople,”Hornesaid.“WorldChainisaboutexpandingoutthesetofusecasesfor,andalsobuildingablockchaininakindofawaythatismoredesignedforthem.” WorldChainispartofOptimism\'sSuperchain,anetworkofinteroperablelayer-2sthatsharesecurityandotherinfrastructure.Assuch,itisinteroperablewithmorethantwodozenchains,suchasBaseandBlast,whichshouldhelpitbringinusersfromallacrossthecryptoecosystem,Hornesaid.It’salsofasterandcheaperthanEthereum’smainnet,withgassubsidiesalsoavailableforverifiedhumanusers. ByusingOptimism\'sopen-sourcedevelopmentframework,theOPStack,WorldChainalsoaimstoattractawiderangeofdevelopers,encouragingthebuildingofdecentralizedappswithreal-worldusecasesonitsnetwork.Thisdevelopmentwillhelpattractevenmorehumansontotheblockchain‌,OptimismUnlimitedChiefGrowthOfficerRyanWyatttoldDecrypt. “WhattheWorldcointeamdoes,whattheBaseteamdoes,whattheUniswapteamdoes,theyareallcontributingtoandadvancingOPStack,”Wyattsaid.“Soit\'stheengineeringeffortsofthebestprotocolengineersintheentireindustry,acrossthesemanyteams,thatarepushingdevelopmentandadvancing—whichbenefitsWorldChain.” Worldcoin,foundedin2019,madewaveswhenitlauncheditsOrb,afuturistic-lookingdevicethatscansusers\'irisesandtiesthemtoavirtualkeyontheblockchain.HumanswhogotscannedwereeligibleforanallotmentofWorldcoin,subjecttoregionalrestrictions. IntroducingWorldApp3.0,thesuperappforhumans.NowfeaturingMiniApps.pic.twitter.com/Db8GYXBg4n —World(@worldcoin)October17,2024 WorldChainwillnativelyintegrateWorldID,grantingusersthatareverifiedthroughthesystemaccesstoprioritizedblockspace.Itwillalsohostaglobalnetworkofonandoff-rampsinmorethan150countries,inadditiontoseveralstablecoinmarkets. Servicesthatcanbeusedbypeoplewhoareshutoutofthetraditionalfinancialsystemareexactlywhatwillhelpdrivethechain\'sadoption,HornetoldDecrypt. “It\'splacesthatgenuinelyneedaccesstostablecoinsforfinancialaccess,formovingmoneyacrossborders,forjustgettingahedgeagainstinflationofthelocalcurrency...thatwilluseWorldcoin,”Hornesaid.“Thosearepeoplethatneedcrypto.” EditedbyAndrewHayward decrypt.co

ChilizChain,ablockchaintailoredtothesportsandentertainmentindustries,hasbeenselectedbyCrossmintasthego-toplatformforitssportsinitiatives.ThepartnershipwillallowCrossminttointegrateitssuiteofblockchaintools,furtherenhancingdigitalengagementforfansthroughtokenizationservices,embeddedwallets,andNFTcheckoutoptions. ChilizChainbecomesCrossmint\'sgo-toblockchainforsports!⚽@CrossminthaspartneredwithChilizChaintointegrateCrossmint\'stools,includingembeddedwallets,tokenizationservices,andNFTcheckoutoptionsfordigitalcollectiblesandexperiences.#ChilizChain⚡$CHZpic.twitter.com/l3afhJowqw —Chiliz–TheSportsBlockchain⚽🏆(@Chiliz)October17,2024 ThecollaborationbetweenChilizChainandCrossmintaimstotransformhowfansinteractwiththeirfavoritesportsteamsandathletes.ByleveragingChilizChain’ssports-orientedblockchain,Crossmintwillprovideseamlessdigitalcollectibleexperiences,includingpurchasingNFTsforexclusivemoments,merchandise,andotherfan-centeredactivities.ChilizhasalreadygainedrecognitionastheblockchainbehindSocios.com,aplatformthatoffersfantokensforsomeoftheworld’smosticonicsportsteams. Accordingtothefirm,thepartnershipenablessportsorganizationstotapintoarobustdigitalecosystemtomintandsellcollectiblesdirectlytofans.Crossmint’sNFTcheckoutoptionswillstreamlinethisprocess,makingiteasierforuserstopurchasetokensandcollectibleswithoutthecomplexitiestypicallyassociatedwithcryptocurrencytransactions. ElevatingBlockchaininSports CrossmintwillintegrateembeddedwalletsontheChilizChainaspartofthepartnership,allowingsportsfanstostoretheirdigitalassetssecurely.Additionally,Crossmint’stokenizationserviceswillenablethecreationanddistributionofdigitalassetslikeNFTs,furtherdrivingfanengagementthroughpersonalizedexperiences. Theintegrationaimstosimplifythepurchasingprocessforfans,emphasizinguser-friendlyNFTcheckoutoptions,wherefanscaneasilybuyandownsportsmemorabiliaorcollectibles.ByworkingwithChiliz,Crossmintcanleveragethechain’ssports-specificinfrastructuretomeettheneedsoffanswhowanttoconnectwiththeirfavoriteteamsthroughblockchain-basedassets. ThispartnershipmarksasignificantstepforbothChilizandCrossmintasthedemandforblockchainsolutionsinsportscontinuestogrow.WithCrossmint’stoolsintegratedintoChiliz’sblockchain,sportsorganizationscannowofferdigitalexperiencesthataresecure,scalable,andfan-friendly. ThecombinedofferingisexpectedtosolidifyChilizChain’spositionastheleadingblockchainforsportswhileexpandingCrossmint’sfootprintintheblockchainspace,specificallywithintheworldofsportsentertainment.Assportsorganizationsandfansincreasinglyturntodigitalsolutions,thispartnershipbetweenChilizChainandCrossmintcouldpavethewayforthebroaderadoptionofblockchaintechnologyinthesportsindustry. blockchainreporter.net

Ethereum’sadoptionoflayer-2networkscouldcostETHtrillionsofdollarsinpotentialmarketcapitalizationoverthenextfewyearsifitsassociateddynamicsremainunbalanced,accordingtoVanEckHeadofDigitalAssetsResearchMatthewSigel. InaTwitter(akaX)post,theanalystpositedThursdaythatEthereum’s“changingfundamentalssuggestamodelupdateisinorder.”Insteadofclimbingto$22,000by2030,Ethereum’spriceprojectionwouldplummet67%to$7,300if“thecurrentreality”wasreflected,Sigelwrote. VanEck’smodelfactorsinEthereum’sexpectedgrowthintotalvaluelocked,reflectingthevalueofassetsusedindecentralizedfinance(DeFi)applications.ItalsoconsiderstheamountofEthereumconsumedbythenetwork—andburned,orremovedfromcirculation—asaresultoftransactionfees. Datagatheredoverthepastfourmonthsindicatesthatlayer-2networksare“takingmorevaluefromEthereum”thanpreviouslythought,Sigelsaid.InsteadofEthereumbenefitingfromthebulkofuseractivitycomparedtolayer-2networks,thetrendhasbeenvastlyreversed. “Ouroriginalmodelassumed90:10splitontransactionrevenuebetweenEthereumandL2s,”Sigelexplained.“Theactualsarecurrently10:90infavorofL2s.” Earlierthisyear,layer-2networkshelpingEthereumscalegotaboostthroughDencun.TheEthereumupgradeintroducedso-calledblobs,providinglayer-2networkswithdedicatedstoragespaceforpostingtransactions,whichloweredcostsforscalingnetworks.Before,layer-2networkswereforcedtopostbundledtransactionsintheformcomparativelycostlyof“calldata.” AsnetworkslikeCoinbase’sBaseandOptimismcontinuetoattractusersanddevelopers,Ethereum’ssupplyhasturnedinflationary.TransactionfeeshadoutweighedEthereum’sissuanceintheyearpriortoDencun,buttheasset’ssupplyhasincreasedby318,000ETHsincemid-April,accordingtoultrasound.money. WhileSigel’sprojectionshowedajarringdropinEthereum’sprojectedprice,helaterclarifiedtoDecryptthathispostwas“simplyasensitivityanalysistoshowtheimpactonprice,allelseequal,ifETHdoesn\'ttakebacksomemarginfromitsL2s.” “WeexpecttheunderperformingtokenpricetocatalyzethecommunitytotweakETH’sroadmapinanattempttoreversesomeofthedecliningprofitability,”headded.“Wearealreadyseeingsomeevidencethisishappening.” SigelpointedtopotentialfeesharingmodelsbetweenEthereummainnetandlayer-2networks,whichEthereumco-founderVitalikButerinrecentlyadvocatedfor,asanexample. “WeneedtomaintainanecosystemwhereEthereumpeoplefeeltheyareonthesameteam,\"Buterintweeted,\"andthishasatechinteroperabilitypart,avalues/culturepart,andaneconomicsparttoo.” Idothinkthatthestatusquohasaproblemofvariance:12monthsagotheconversationwasL1\"extractingrent\"fromL2s,nowit\'stheotherwayaround.Whatwedon\'twantisamixedeconomywherethetaxratejumpsfrom5%to95%dependingonweather.Ifwecandesign… —vitalik.eth(@VitalikButerin)October11,2024 ButerinpublishedablogpostThursdayoutlininghisvisionforlayer-2networks.StandingbyEthereum’srollup-centricroadmap,hewrotethataflawwiththecurrentecosystemisthat“itisdifficultforuserstonavigate.” Criticshavearguedthathavingmanylayer-2networksfragmentsusersandliquidity,siloingactivityandassets.Highlightingtheneedfor“maximuminteroperability,”Buterinwrotethat“Ethereumshouldfeellikeoneecosystem,not34differentblockchains.” Amongmajorcryptocurrencies,Ethereum’sperformancehaslaggedpeersoverthepastyear.Theasset’spricehasclimbed65%duringthattimeto$2,591,underperformingagainstBitcoin’s135%riseto$67,000andSolana’s517%leapto$148,accordingtoCoinGecko. Ethereum’srelationshipwithlayer-2networksisn’ttheonlythinghurtingtheasset’sprice.Thecrypto’srecentstrugglescanbepartlyexplainedbytheperformanceofspotEthereumETFs,KrakenHeadofInstitutionalTimOgilvietoldDecrypt.AsidefromalackofstakingyieldforETFinvestors,OgilviesaidthethesisaroundEthereumisn’tasclearasBitcoinfromaninstitutionalinvestmentperspective. TheconceptofEthereumbeinga“programmablecomputer”poweredbysmartcontractsor“ultrasoundmoney”basedonburntfeesisn’taspalatableasdigitalgold,heexplained.Sofar,sincelaunchinginJuly,spotEthereumETFshavecollectivelyseen$160,000incumulativeoutflows,accordingtoCoinGlass. “ETHisinafunkyspotrightnow,that’sforsure,”Ogilviesaid.“Ifyou\'reconstructingaportfolioforapensionfund,areyoureallyinvestinginthefutureofblockchainasathing?Maybesomepeople,butit’saweirdlegtoaddtothings.” EditedbyAndrewHayward decrypt.co