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The rise of Ethereum blockchain

For developers creating solutions using Ethereum as a base, there is a substantial amount of functionality hosted on the Ethereum blockchain, as reported by Cointelegraph. The native currency of the Ethereum blockchain is called Ether (ETH), and it is used to pay for transactions on the Ethereum blockchain.

As per Cointelegraph, At a Bitcoin conference in Miami, Florida, in January 2014, Buterin introduced the world to the idea of the blockchain project, which is how Ethereum came to be known. Later that year, the project received money through an initial coin offering (ICO), selling ETH tokens worth millions of dollars in exchange for cash to use for project development. The asset sale sold over $18 million worth of ETH, paid for in Bitcoin, between July 22 and September 2, 2014.

Despite the fact that ETH coins could be bought in 2014, the Ethereum blockchain did not go live until July 30, 2015, so ETH buyers had to wait until the blockchain launched before they could transfer or spend their ETH. Why was the Ethereum blockchain initially created? One explanation is that the Ethereum blockchain offers greater development flexibility for the blockchain and its ecosystem.

The switch to PoS that was made in order to scale the network is a significant modification to the Ethereum blockchain. Over the years, a lot of projects have developed applications for the Ethereum blockchain. Even then, during the 2017 era of CryptoKitties, a digital collectible cat platformed by the Ethereum blockchain, the network had difficulties.

Decentralised finance (DeFi) projects built on Ethereum attracted a lot of attention in 2020 and 2021, which brought Ethereum’s scalability difficulties to the fore as high network fees hampered participants. Although it happens gradually, Ethereum’s transition to Eth2 and PoS attempts to scale the well-known blockchain, Cointelegraph stated.

 (With insights from Cointelegraph)

Also read: What is Tokenomics and how does it work

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Tracking the crypto asset market

When Ether token (ETH) was launched back in 2014, one ETH was sold for around ₹25.18

We have launched Cryptogram, an India-focused free weekly newsletter on blockchain tech, global crypto markets, and Web 3.0 technologies which promise to change our future. If you would like to subscribe to this newsletter, click here. You can read our past editions here.

In today’s article, we will discuss the definition of altcoins along with the concept of initial coin offering (ICOs).

Alt Coins are actually an abbreviation for alternative coins. Coins other than bitcoin such as Ethereum (ETH), Solana (SOL), Polygon (MATIC), Ripple (XRP), etc are commonly referred to as altcoins. Although Bitcoin is the most well known and valuable of the lot, it does have some downsides and these alt coins usually try to represent a better or different version of Bitcoin such as faster transactions or provide more privacy to the users.

One of the distinctive downsides of an alt coin is, many of them are relatively unknown and there are only a few exchanges and wallets that support them, making them harder to buy. Until today, thousands of coins have been introduced, however only a few seem to have gained popularity over the course of years. 


What is an ICO?

ICO stands for initial coin offering. Most of us might be familiar with the traditional finance term “IPO”, which denotes Initial Public Offering and ICO is basically similar to it in the coin universe. An IPO is used to describe the launch of a company on a stock exchange, also commonly referred to as “going public”. The purpose of the IPO is to raise capital for the company by selling the stocks of the company to the public.

On the other hand, ICOs sell coins known as tokens as a way to fund a specific project. The general idea is, if the project is believed to succeed, we buy the tokens to fund the project beforehand at a discount, and we will be able to sell them later at a profit, when the project succeeds. After the ICO is set-up, the public can send money to the project by investing in the ICO and receive project tokens or coins in return. If the money raised by the ICO does not meet the minimum requirements of the ICO, they are returned back to the investors and they are deemed to be unsuccessful. In summary, ICOs are basically a Kickstarter for crypto projects.


ICOs can be lucrative if we know to pick winners

While conducting an IPO requires lots of restrictions and regulations to comply, ICOs skip their entire burden as they raise the money in crypto assets that are yet to be regulated across the world. One of the most popular and lucrative ICO was that of Ethereum. When they launched back in 2014, one ether token (ETH) was sold for around 40 cents (₹25.18 in 2014), which is currently trading at $1,065 or roughly ₹ 85,000. If you had spent ₹100 to buy 3.97 ETH, it would have been worth around ₹ 3.3 Lakhs currently. 


ICOs can be extremely risky

Just like the possibility with any financial instruments, it contains greater rewards as well as risks. Although ICOs might seem lucrative, many actually try and fail to garner the attention and interest of the public with their projects. On the other hand, ICOs can actually be hacked. One of the worst examples of a disastrous ICO is the DAO ICO. The decentralized autonomous organization project managed to raise $150 million worth of Ethereum. However, after the ICO ended a hacker managed to steal a third of the amount raised due to a bug in the code of Ethereum.


Things to be vary of before investing in an ICO

Before deciding to invest in an ICO, try to find answers for the following basic questions and try to see if they align with your risk appetite.


  1. What am I Investing in?

  2. How much is being raised through ICO

  3. How are the tokens planned to be distributed?

Our advice is not to invest in something that you do not understand to begin with. If you are just starting with ICOs and Crypto, please do a fair amount of research on the projects before committing. 

To sum it up, ICOs should be considered as risky as gambling and are a new form of crowd funding that only a very few people understand. Due to the irreversible and unregulated nature of the crypto asset, people do not have an alternative or a recourse, if an ICO turns out to be unsuccessful or a scam. 

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Disclaimer: This article was authored by Giottus Crypto Exchange as a part of a paid partnership with The News Minute. Crypto-asset or cryptocurrency investments are subject to market risks such as volatility and have no guaranteed returns. Please do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.




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What is the Initial DEX Offering (IDO)? Here are the best IDO launchpads of 2022

Initial DEX Offering (IDO) is one of the crypto industry’s innovative approaches to raise funds. This is an alternative fundraising approach pioneered by the industry after the Initial Coin Offering (ICO) drew much ill will in 2017. ICO is an unregulated approach to raise funds from retail investors. Although IOCs made many early investors millionaires overnight with their impressive profits, many retail investors also lost money as several ICO projects turned out to be outright scams/quick cash grabs.

New investors have been discouraged from investing in the crypto space due to the negative impression of ICO projects. Decentralized finance (DeFi) has attempted to address this issue by creating alternative fundraising models, and the DEX (Decentralized Exchange) model is one such approach.

What is an IDO?

An IDO is the latest fundraising approach used by crypto projects to raise funds from investors. It is a token offering on a DEX. Liquidity pools (LP) play a crucial role in IDOs as they create liquidity after the sale. IDOs allow users to lock funds in the DEX to generate new tokens. Some of the funds raised through IDOs will be added to a liquidity pool with the new token before being returned to the project.

Also Read: Why is Dock (DOCK) Crypto making a splash today?

These liquidity pools are one of the main reasons for the success of IDOs. Liquidity allows DEXs to function smoothly. This is why liquidity providers are rewarded by DEXs.

Early investors in a crypto project can sell their project tokens at a higher price once that project’s IDO goes live. Early investors have the benefit of being able to buy large amounts of tokens at a discounted price and later sell those tokens at a higher price after the initial sale has taken place.

Another positive aspect of an IDO is that investors do not have to wait long for the token to be listed. Here the list is made immediately after the completion of the IDO. This allows investors to liquidate their investment faster compared to ICOs.

IDOs are a cheap and easy way for projects to distribute their tokens. However, IDOs also have certain limitations. DEXs are not scalable. While projects have raised over $1 billion through ICOs, they may not be able to raise such large amounts through IDOs. This is mainly due to the lack of knowledge about DeFi platforms, which prevents new crypto traders from investing in IDOs. Also, DEXs are vulnerable to hacking. In the past there has been news of hackers siphoning investor funds from DEXs.

Also Read: Want to Become a SHIB Millionaire? CoinJar has a present for you when it turns 9 years old

The Best IDO Launchpads of 2022

Here are three top IDO launchpads of 2022

Binance Launchpad

Binance, one of the most famous crypto exchanges worldwide, has its own IDO launchpad known as Binance Launchpad. On this platform, participants who can invest in the upcoming IDO will be selected via a lottery system. This is based on the Binance Smart Chain (BSC) and users can use their Binance coins to get a lottery ticket to participate in the IDO. According to the information available on the Binance Launchpad website, it has launched 64 projects so far and helped them raise $130 million. Over 3.5 million unique users participated in these IDOs.

OKEx launchpad

OKEx is a prominent crypto launchpad project that has helped launch successful IOCs like Perlin, Beam, and Harmony. OKEx has its own token launch platform called OKEx Launchpad. It allows crypto projects to raise funds and connect with a global community of crypto enthusiasts. OKEx Launchpad lists projects for a limited time. In this time frame, OKEx users can stake OKB (native coin of OKEx) and receive the tokens issued by these crypto projects. The more OKB-Coins users stake, the more tokens they can get.

Also Read: Decentraland (MANA) vs The Sandbox (SAND): How Do They Stack?

KuCoin Spotlight

KuCoin is a top cryptocurrency exchange in China with a global customer base of over 10 million. KuCoin Spotlight is its own token launch platform. What is unique about Kucoin Spotlight is that users can earn rewards for trading specific digital assets. KuCoin Spotlight has launched 20 projects so far with the highest ROI for these projects exceeding 924x according to the data available on the exchange.

Risk Warning: Trading cryptocurrencies involves a high level of risk, including the risk of losing some or all of your investment, and may not be suitable for all investors. Cryptocurrency prices are extremely volatile and can be affected by external factors such as financial, regulatory or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) are subject to change. Before deciding to trade any financial instrument or cryptocurrency, you should fully understand the risks and costs involved in trading the financial markets, carefully consider your investment objectives, level of experience and risk tolerance, and seek professional advice if necessary. Kalkine Media cannot and does not represent or warrant that the information/data available here is accurate, reliable, current, complete or suitable for your needs. Kalkine Media accepts no liability for any loss or damage arising out of your trading in or reliance on the information shared on this website.

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GMT Crypto: What you need to know about the STEPN network ahead of Binance IGO

One crypto that has attracted investor interest lately is the STEP (GMT USD) network. The platform uses blockchain technology for a unique goal: to make users move their feet. Could Crypto Rewards Be the Next Frontier for Incentivizing Exercise? And if so, could STEPN be a leader in this area? The network is trying to establish itself as such. Recently, the GMT crypto has received a lot of support binance (BNB USD).

Source: Primakov / Shutterstock

STEPN is a young blockchain project that wants to start a new movement in space. The developers of the network, which launched last August, hope STEPN will serve as a launch pad for the move-to-earn economy. Move-to-Earn, starting with STEPN, seeks to empower users. One can join the platform and earn passive income by running through GPS tracking.

The network uses non-fungible tokens (NFTs) to distribute the rewards to players. You have to buy one of four different NFT sneakers – each NFT is linked to fitness level. For example, you can buy the “Runner” NFT if you’re a fast runner, or a “Walker” NFT if you prefer to take things slow. By owning an NFT and connecting to the network via GPS, users earn passive income for their workouts.

The idea is innovative and quite unique compared to other projects. Not to mention that the network has already garnered support from the fitness industry; Adidas manager Scott Dunlap is acting as an advisor to the STEPN network.

GMT Crypto sees rapid growth with Binance Listings, IGO

Since the launch of the GMT crypto in early March, it has already seen some solid gains. In the past few days, these gains have increased significantly. Much of this is due to the help the network is getting from Binance to expand its footprint.

Starting today, Binance users can find STEPN NFTs on the exchange platform’s NFT marketplace. The exchange hosts the first game offering from STEPN or IGO. IGO events are separate from Initial Coin Offerings (ICO) and focus solely on NFTs.

As a new way of public listing for the blockchain world, IGOs ​​are the first chance for the public to participate in projects like STEPN, Metaverse and Play-to-Earn platforms by buying the required tokens. In the case of STEPN, users can purchase the sneaker NFTs required to generate passive income.

The news builds on some previous Binance news that greatly benefited the GMT crypto. In late March, the exchange announced that it had created GMT liquidity pools, giving users the ability to earn passive income from their assets through liquidity mining. The news preceded the biggest catalyst crypto has seen to date; Prices rose from 78 cents to $3.11, a nearly 300% gain.

At the time of publication Brenden Rearick held (neither directly nor indirectly) positions in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s publicity guidelines.

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Calyx Token, Opportunity for Crypto Investors: Ethereum and Filecoin Prove Pre-Sales Can’t Be Missed

cryptocurrencies have done many millionaires in recent years and crypto Popularity is on the rise around the world. However, with the ever-growing number of cryptocurrencies currently available, new investors might find it difficult and confusing. Learn from the past pre-sale success might be a good starting point for many newcomers. Lots of new coins, like Calyx Token (CLX)Launched in pre-sale, they usually attract a lot of attention from seasoned investors, but here is why crypto market newbies should also consider investing in CLX.

Calyx Token (CLX)
During the presale phase – before the live market launch – coins are offered cheaper and are considered safer. This is because the price cannot go down, which means your invested capital has more potential for growth. This also applies to the pre-sale of Calyx Token (CLX). the maximum tokens The offer for CLX is limited to 500 million.

Calyx Token (CLX) is built and developed to enable multiple chain crypto trading. The platform aims to transition into a fully community-driven network and allow users to trade at the best prices by sourcing liquidity from multiple liquidity sources. CalyxDAO will empower CLX holders to stake their tokens to participate and vote on the proposals. The goal is to empower community members and ensure ecosystem productivity.

The CLX platform will focus on security, transparency and decentralization. Smart Contracts ensures that no third party is involved. CLX will be available for instant trading in a single transaction – users will obtain who swapped tokens immediately. Coins are exchanged on CalyxSwap, where contributing tokens to the common liquidity pool earns users a percentage of execution fees. Multiple liquidity pools create flexibility that benefits and reduces traders gas charges.

Calyx Token will initially be supported on the Ethereum (ETH) blockchain. However, the team behind CLX plans to include different blockchains, such as: Polygon (MATIC), Avalanche (AVAX), Fantom (FTM)and Binance Smart Chain (BSC).

Ethereum (ETH) and Filecoin (FIL) influence crypto presale hype
However, some cryptocurrencies performed particularly well during their pre-sales Ethereum (ETH) and Filecoin (FIL) showed extraordinary success. Invest earlywhile pre salesturned out to be exponential growth from crypto Capital Cities.

The second largest cryptocurrency currently on the market – Ether (ETH) – Introduced in 2014 in the pre-sale phase. On the day of launch, $2.3 million (7.4 million ETH) was raised. At its highest price in November 2021, it showed a 3 million% increase over the presale price.

Filecoin (FIL) had the most successful advance sale so far. It raised an impressive $52 million during its first pre-sale phase in 2017, followed by $205 million during the Initial Coin Offering (ICO). The price surged 350% from $1 to $4.58, peaking in 2021 at $237.24.

Learn more about Calyx Token (CLX) here:

http://presale.calyxtoken.io/

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Tracking the world of decentralized finance

ETH set to become deflationary while ADA welcomes Vasil hard fork.

Both Ethereum (ETH) and Cardano (ADA) aspire to be the operating system through which custom decentralized applications (dApps) can be built upon using programming logic. Though the final objectives are similar, their approach to design are poles apart. In fact, the difference stems from the philosophies of these respective blockchain founders Vitalik Buterin and Charles Hoskinson. Vitalik envisions Ethereum to be a world computer by building and experimenting fast while Charles, who also helped co-found Ethereum, emphasizes a research driven approach to the design of Cardano. In this article, we will take a look at the key differences between Ethereum and Cardano in terms of vision, network design and monetary policy.

Founder’s Vision

Ethereum was launched in 2015 by the 19 year old prodigy Vitalik Buterin (with the help of few other contributors) to leverage blockchain technology to build an open source platform to decentralize products and services beyond money. Entrepreneurs flocked to Ethereum for the first time during the Initial Coin Offering (ICO) boom in 2017 that allowed creators to raise money for new projects using the crypto assets created on Ethereum blockchain. Fast forward a few years – decentralized finance (DeFi) started to flourish from the 2020s and currently a new protocol upgrade Ethereum 2.0 in the works with Beacon chain, merge and shard chains in pipeline to achieve a more secure and scalable Ethereum. 

Cardano was created by Charles Hoskinson and Jeremy Wood in 2017 with the vision to provide economic identity to billions of people by enabling the creation of dApps to manage identity, value and governance. Cardano differs from most blockchain projects by relying heavily on peer reviewed research and formal development methods. The launch of Cardano is designed in five successive phases namely Byron, Shelley, Goguen, Basho and Voltaire which aims to achieve decentralization, scalability and sustainability in a systematic manner. Cardano is currently entering the Basho phase.

Blockchain Design

Ethereum allows developers to write programs called smart contracts that can be deployed on the blockchain. Similar to Bitcoin, Ethereum validates the transactions through proof of work (PoW) mining method. However, the plans to upgrade the network to proof of stake (PoS) which drastically reduces energy consumption is underway. Post this upgrade, any user who owns a minimum of 32 ETH could lock those funds in a contract and earn rewards for solving computations needed to add new blocks to the blockchain.

To secure its network, Cardano uses a consensus mechanism called Ouroboros protocol (PoS) which boasts a high level of security enabling users to validate transactions. Ouroboros determines the user responsible for choosing the blocks that get added to the blockchain and lets them earn the native token ADA as rewards. Arguably, Cardano is ahead of Ethereum only in this regard as it paves way for more energy efficient implementation at the beginning itself while Ethereum has to transition from PoW to PoS without affecting the user experience of the existing users. 

Monetary policy

ETH, which powers the Ethereum blockchain, is currently an inflationary asset meaning the supply of ETH is programmed to increase every year at 1.9% per year. With proposed ‘Merge’ upgrade only months away, ETH will turn deflationary (issuance of ETH to be reduced by 90%) making it scarcer in the future. ETH has broken $3,000 again in the last 24 hours riding on the positive sentiment brought about by the new upgrades. 

ADA, which powers the Cardano blockchain, is minted every block and users are distributed with ADA for verifying transactions. It has a limited supply of 45 billion out of which 31 billion is already in circulation with the other 14 billion to be issued through minting. ADA, which has been trading at sub $1 for quite some time, finally broke out of its accumulation range to trade near $1.13 today. The price surge is attributed to the Vasil hard fork which is likely to happen in June that will allow the developers to incorporate pipelining in the dapps. 

Outlook: ETH or ADA?

The market cap of Ethereum is $367 billion at the moment, which is almost 10 times that of Cardano. If ADA reaches ETH’s market cap, it has to do a 10x from the current price level. While it’s not entirely impossible, it all depends on the real world value that Cardano can generate in the future. At the same time, Ethereum is also trying to mitigate some of its issues (high gas fees and transaction times) with protocol upgrades. The answer to which will gain mass adoption will take years to unfold but an exciting one to observe. 

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Disclaimer: This article was authored by Giottus Crypto Exchange as a part of a paid partnership with The News Minute. Crypto-asset or cryptocurrency investments are subject to market risks such as volatility and have no guaranteed returns. Please do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.




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Tracking cryptocurrency news from around over the world

Manchester United Football Club aims to build a metaverse for its fans on Tezos blockchain

The global financial markets have corrected today as the annual CPI (consumer price index) that measures price of goods and services and its inflation has reached a 40 year high of 7.5% in the US. Given this data, it is likely that the US Federal Reserve will hike interest rates soon. The markets around the world have reacted accordingly with crypto being no exception. The crypto market declined by 2% today to stand at $1.97 trillion as of 5 pm IST. In this article, we briefly cover some of the interesting crypto stories that have occurred in the past week.


Big brands strike crypto deals

Manchester United Football Club, a popular football club, has partnered with blockchain firm Tezos for a £20 million deal as its official training kit and technology partner.  The club aims to use Tezos to build a metaverse based ecosystem for its fans amid accelerating adoption of web3 technologies all around the world. Tezos,  a proof-of-stake blockchain that is currently ranked 42 among cryptocurrencies, has also signed sponsorship deals with Formula 1’s McLaren Racing and Major League Baseball’s the New York Mets.

Global crypto exchange Binance has made a strategic investment of around $200 million in Forbes magazine through Forbes and Magnum Opus Acquisition Limited, a publicly-traded special purpose acquisition company (SPAC). Binance’s investment is made with a belief that media is an essential element to build widespread consumer understanding and education surrounding the web3 and blockchain technologies.


VC’s bet on Polygon

Polygon, a layer 2 scaling platform for Ethereum co founded by Indians, has raised $450 million in an investment round led by Sequoia Capital with participation from more than 40 venture capital funds  including SoftBank Vision Fund 2, Galaxy Digital, Tiger Global and Republic Capital. Polygon team aims to use the funds to develop the scaling solutions like Polygon PoS, Polygon Edge and Polygon Avail and will also continue to invest in zero knowledge (ZK) technology.

ZK is considered one of the most innovative solutions that has been designed in recent times to solve scaling issues and Polygon is betting big on that. ZK protocol in a nutshell means a method by which one party (the prover) can prove to another party (the verifier) the possession or existence of some information without revealing the actual information.


Hacker wins $2 million bounty

Optimism, a layer 2 Ethereum scaling project, has averted a potential hack that could have led the attackers to create infinite ETH. White hat hacker Freeman who was responsible for finding the bug has been awarded a bounty of $2 million for his efforts, one of the largest bug bounties till date. While Optimism offers benefits of reducing slippage, decreasing transaction costs and vastly improving transaction speeds, security remains a concern.

Use promocode TNM51 at www.giottus.com/profile#promo after registration to get Rs.51 worth free Bitcoin

Disclaimer:This article was authored by Giottus Cryptocurrency Exchange as a part of a paid partnership with The News Minute. Crypto-asset or cryptocurrency investments are subject to market risks such as volatility and have no guaranteed returns. Please do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.




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