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SHIB token announces BONE as gas in Shibarium

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The Shib token network took to Twitter to confirm that BONE will be used as the primitive gas token on the Shibarium blockchain.

Shibarium is a blockchain/layer-2 solution that will work on the Ethereum program. Over time, it will function in a similar way to ETH and build its own network for the users to access. The SHIB creator said,

“The line between an L2 and own blockchain is thin, I mean what is the difference really between Matic L2 and BSC?”

Although SHIB token and LEASH have more benefits in ShibaSwap, they will not be used as the basic duo token for Shibarium. BONE will be used instead. Ryoshi said that BONE will have a fair and 0 start in which he will not have to be concerned about overshadowing whale sacks.

There is not a lot of information regarding Shibarium, but we do know that the main intent will be to reduce transaction fees for the users of the Shib token ecosystem. While speaking on the Shiba Discord, Shytoshi Kusama, the project lead said,

“Shibarium will offer low fees for every service, game or whatever that builds on it.”

Special speaker Queenie took on every query asked about SHIB Token

Shiba Inu’s official Twitter handle and Gokhshtein Media saw nearly 11,000 people present on the ShibAMA space. The guest speaker, Queenie not only answered every question thrown at her but also confirmed that BONE will be used as the native gas token on the upcomming Shibarium blockchain. She said,

“It’s purely just that the gas token you’ll be paying is BONE. So you’re not losing any SHIB along the way. You will still be able to use Leash and Bone and get all your liquidity sorted.”

Nonetheless, she also affirmed that, LEASH will be tied with the NFT segment.

Queenie refused to specify a timeline for the release date of Shibarium, she however said that it will be released as soon as possible. She further said that there will be a big surprise when entering 2022, for the Shib token community. Specifics of the surprise hasn’t been mention though. According to Queenie, BONE wont me minted completely the year 2024 and ShibaSwap 2.0 will keep it balanced.

As her footnote, Queenie expressed gratitutde to everyone present and endorsed in an optimistic attitude. She added,

“I appreciate everybody. All of the support from the community. I was extremely nervous as anyone who’s been speaking to me would know. But I’m I’m really honored to be representing the SHIB community and the team in this space. I’m just really excited for 2022. I can’t express how optimistic and passionate I am about this project. It’s just something else. Something to look forward to.”

At the time of writing, Shiba Inu was priced at 0.000034 and experienced a daily drop by 4.09%.

Marathon invests in Bitcoin Miners worth $879M

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The Nasdaq (global market) listed firm, based in Las Vegas, Marathon Digital Holdings Inc., has made a ‘Record Breaking’ purchase of Bitcoin mining machines that are worth $879 million.

The purchase of Antminer S19 XP (Bitcoin mining machine) has been made from Bitmain, a company that makes hardware for blockchain and artificial intelligence applications. Marathon Holdings made this announcement in a Securities and Exchange Commission(SEC) filing on 28, December 2021. The deal is expected to increase the firm’s hash rate to 23.3 EH/s by early 2023.

The order was announced last week on 23 December 2021, but its purchase price had not been disclosed. The disclosure of the price of the investment was out in the open only yesterday, 28 December 2021. The order expresses the delivery of 78,000 units of Bitmain’s Antminer S19 XP mining machines, all through 2022.

Marathon to pay Bitmain in batches

The machines are set to be dispatched in six batches, each consisting of 13,000 units, which will be delivered each month starting from July 2022 till the end of the year. The payments by Marathon to Bitmain will also be made in respective segments.

Marathon said,

“35% of the total amount within two days of execution of the purchase contract, 35% of each single shipment price at least six months prior to each such shipment, and the remaining 30% of each single shipment price at least one month prior to each such shipment.”

Marathon Digital Holds Inc. is expected to have 199,000 operational miners generating 23.3 exahashes per second(EH/s) by early 2023 and a 600% increase from current levels, as per reports.

In 2021, Marathon Digital made large purchases of miners, and in October obtained a $100 million revolving lines of credit with Silvergate Bank in bitcoin and U.S. dollars to go toward its mining operations and buy new equipment.

After China’s ban on Bitcoin mining in October, the share of U.S.- based BItcoin mining has increased significantly. The U.S. is leading the Bitcoin mining market with an over 35% hash rate.

Clover Finance unites with Standard Protocol to safeguard collateralized assets

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Clover Finance, a decentralized infrastructure platform that’s focused on cross-chain compatibility for decentralized finance or DeFi applications has announced its partnership with Standard protocol, a collateralized stablecoin platform on the Polkadot chain. As per the blog, Clover is a substrate-based blockchain platform with a strong wallet suite that’s focused on cross-chain compatibility for decentralized applications [DApps] across several ecosystems such as Ethereum [ETH], Polygon [MATIC], Polkadot [DOT], Solana [SOL], Binance Smart Chain [BSC], Fantom [FTM], Avalanche [AVAX], Kusama [KSM].

Delving more on the collaboration, the blog post further states,

“Standard Protocol governance token, STND, is now integrated with Clover’s MultiChain Wallet to safeguard the collateralized assets. Now, you can find the STND token on both Ethereum and Polygon Network on Clover Wallet Suite, including extension wallet, mobile wallet, and web wallet. “

The news comes after a week when Clover Finance secured 5th position in Polkadot’s first round of five parachain auctions. The successful launch enabled the blockchain to bring a unified multi-chain experience to the Polkadot ecosystem.

So, what is Clover Finance?

The crypto industry, especially the DeFi and non-fungible token [NFT] markets have been successful in capturing mass attention over the last year and have recorded explosive growth. However, the concept is still new for many new entrants primarily because of the lack of beginner-friendly tools and complicated process.

This is where Clover Finance intends to bridge the gap that exists between new crypto users and crypto natives by providing an efficient portal for everyone, including new and old users, developers, into the DeFi space.

Clover Finance – a gateway to Omniverse?

As per a blog published on December 21, the platform shared some insights on key milestones for the network in the coming 2022. One of them is the goal to become the ‘Passport to the Omniverse’. But what does it imply? In the article, Clover put forward a few points on its infrastructure as well as outlined a roadmap for the upcoming year.

Clover provides a one-stop infrastructure for cross-chain and decentralized applications such as DeFi.

  • On the top layer, Clover Multi-Chain Wallets sit as the user’s interface, an entrance
  • On the middle layer, there is the Clover dApp interaction protocol for cross-chain dApp communication and interactions
  • On the bottom layer, there is the Clover EVM and Universal Cross-Chain support.
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Chainlink launches brand new batch of DApps; More details

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Leading Oracle network pioneer Chainlink [LINK] has announced its latest batch of decentralized applications [DApps] with integrated oracle functions across prominent networks like Binance chain, Ethereum, and Moonriver. At the top of the list is the non-custodial lending platform Atlantis loans integrating with the Chainlink Price Feeds on Binance Smart Chain [BSC] mainnet. According to the post, the Chainlink support would provide access to real-time global market prices which is critical to the security of DeFi money markets.

Next on the list is the PlayToEarn gaming firm Dragonkartcom utilizing Chainlink feeds on the BSC to help mint NFTs with verifiably random traits and generate provably rare items in loot boxes as NFT-focused blockchain games require fair minting and distribution processes. In addition to that, having access to a tamper-proof and auditable source of randomness ensures more transparency and a fraud-proof user experience. Further, the blog stated,

In order to help ensure NFT mints and Mystery Combo boxes are unbiased in outcome for all users, we needed access to a secure random number generator (RNG) that any user could independently audit. However, RNG solutions for smart contracts require several security considerations to prevent manipulation and ensure system integrity. For instance, RNG solutions derived from blockchain data like block hashes can be exploited by miners/validators, while off-chain RNG solutions derived from off-chain APIs are opaque and don’t provide users with definitive proof about the integrity of the process.

Leveraging Chainlink Data Feeds to Help Power dApps

Smart contract marketplace Transient has too jumped on the bandwagon of establishing support using Chainlink VRF securing through the generation and on-chain verification of cryptographic proofs that prove the integrity of each random number supplied to smart contracts. As a matter of fact, on-chain prediction markets require oracles to determine outcomes. Through this integration, the blog claims that LINK Price Feeds would help settle price prediction markets in its CryptoPool dApp. Apart from that, Transient also plans to expand into esports with support from Chainlink.

Lastly, crypto-asset lending protocol WePiggy has integrated Chainlink Price Feeds on the Moonriver mainnet in order to provide its users with stronger assurances that their collateral assets would consistently track global markets and without being affected by price manipulation.

And that’s a wrap: Dapper labs & Flow Blockchain Year in review

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As 2021 comes to an end, crypto gaming giant Dapper labs published an overall review of its several high-profile projects in the blog. One of its major creations is the NBA Top Shot which has grown more than 100x — from a mere 10k signups and around 1k active users last year to over a million signups and 150k active users to date.

Adding to that the gaming entity is working on its next NBA Top Shot –2022 roadmap.

Similarly, its community consisting of Web3 developers building on the Flow blockchain has also increased by 100x. For example, Start-up NFT Genius launched Ballerz on November 8 this year, raking in over $3 million in secondary sales volume during its first week on Gaia — the first NFT marketplace powered by Dapper.

Not only startups but even established firms have dived into the Flow ecosystem- YouTube choosing Flow as their first NFT minting platform, rewarding gifts to their top creators that are starting to make the rounds on the social web.

Earlier this week, Matrix World, the first Metaverse project on Flow, did a successful $4 million+ Flow primary drop, crossing $1M in secondary sales on the BloctoBay NFT marketplace, and has recently announced a partnership with Asian Popstar Jay Chou.

Continuing its rapid strides into the music domain, Versus Auction, art NFT platforms running on the Flow chain, launched collabs with popular artists like John Orion Young, Ben Mauro, and Alotta Money.

Likewise, Dapper labs’ long-time partner Animoca built MotoGP and Olympic Pins this year announcing its entry into the sports Metaverse on Flow. Alchemy, the leading blockchain developer platform, just launched Web3 University — a learning resource for everyone wanting to jump into this world.

Taking cues from NBA top shot, Eternal – a Dapper-backed startup had announced its funding round that includes investors like Mark Cuban, Gary V, and Coinbase in September 2021–– and been executing consistently since then.

Dapper Labs entry into the mainstream world

Seussibles is a mobile-first mainstream consumer NFT experience featuring the Dr. Seuss universe and expanding to other IPs in the future. Moreover, Dapper-powered sports startup, SportsIcon announced a partnership with Floyd Mayweather himself— as well as an upcoming platform for all college and pro athletes.

Lastly, search engine giant, Google became the latest entrant by enabling its cloud platform, Google cloud to host Flow blockchain nodes.

Shiba Inu bags a spot on NiceHash

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Shiba Inu is now being listed on yet another crypto trading platform, NiceHash.

Despite all the pickle that the $SHIB has been through over the past few weeks, many podiums seem to be listing the altcoin on their websites. The previous week, Spain’s largest crypto exchange listed the meme-coin. As for Bitstamp, they have assured the users that the Dogecoin-killer will be listed in 2022 without fail. Now, yet another platform has given the SHIB users hope by listing the asset on their website.

Shiba Inu to have a Merry Christmas indeed

The British Virgin Islands-based company NiceHash had hosted a Twitter poll on 21 December 2021 asking its followers to pick a coin of their choice.

As a result, NiceHash took to Twitter to announce their listing of Shiba Inu in the form of wishing A Merry Christmas to many SHIB related twitter profiles such as the ShibArmy, ShibInformer, Shibtoken, ShibInfo, ShibaSwapDEX, ShibInform, and ShibReports. To which the ShibArmy replied saying that #Shib is the Future.

NiceHash is a worldwide cryptocurrency hash power broker and cryptocurrency exchange that was launched in 2014. This company was founded by two sSlovenianuniversity students, Marko Kobal and Matjaz Skorjanc.

NiceHash is an open market that connects various miners with buyers of capacity using the sharing economy approach. Its users are fundamentally video gamers with prevailing GPU graphic cards that befit Cryptocurrency mining. The company has over 2.5 million users in 190 countries globally, according to aesearch in November 2021.

The company believes in the world of sharing economy and decentralization that has led them to create massive tools and platforms for cryptocurrency miners and traders. NiceHash serves as a grit network by indirectly providing new coin creation and transaction validation on several different blockchains.

NiceHash has come a long way in a short period, it is also known to be used by buyers of hash power. With the enlisting of Shiba Inu on their exchange platform, the company seems to be gaining more users.

Multichain secures $60M funding from Binance Labs to boost Web3 adoption

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Multichain which was formerly named Anyswap, a cross-chain protocol raised a $60 million financing round worth $1.2 billion led by Binance Labs today. According to the press release, the series of rounds was joined by several other well-known investors such as Sequoia China, IDG Capital, Three Arrows Capital, DeFiance Capital, Circle Ventures, Tron Foundation, Hypersphere Ventures, Primitive Ventures, Magic Ventures, and HashKey. Apart from providing support financially, the group will also be jointly involved in the project’s development at a deeper level towards the common vision for web3 adoption.

Multichain who recently rebranded from Anyswap, was initially functioning as a cross-chain decentralized exchange or DEX since its inception back in July 2020. Then in 2021, the platform removed the DEX function in order to focus on its cross-chain bridge services. Finally, on December 16, Anyswap decided to rename the brand to Multichain. 

As per the press release, Multichain provides cross-chain infrastructure for 25 mainstream public blockchains including Ethereum [ETH], Fantom [FTM], Binance Smart Chain [BSC], Avalanche [AVAX], Moonriver [MOVR], Arbitrum, Polygon [MATIC], and Harmony [ONE]. Besides the Total Value Locked [TVL] on the cross-chain protocol is over 300k, nearly $5 billion, with over 1,000 crypto assets circulating among different mainnets. Speaking on the latest announcement Zhaojun, the Co-founder of Multichain.

“Multichain now is the cross-chain infrastructure that connects more public blockchains and crypto-assets than anyone else, with lower transaction fees, shorter bridging time, and higher security levels. Aligning with our plan to improve Web3, the protocol will integrate NFT Cross-Chain Bridge and our new anyCall solution for arbitrary cross-chain contract calls, supporting innovative NFT and DeFi DApps in cross-chain ecosystems. We will remain on the frontline of cross-chain research.”

Multichain quest to be the ultimate Web 3 router

Multichain as per the blog post would utilize the funds to invest in the growth of the team and the ecosystem to further the mission of routing the Web3 technology. This also meant expanding the R&D team, especially the research team on crypto algorithms, the audit team that focuses on security, and the service team that supports more users and more blockchain ecosystems to connect with the cross-chain platform.

Ethereum’s Lido Finance scores support of Chainlink Price Feeds

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Ethereum’s [ETH] staking platform Lido Finance announced its support of Chainlink Price Feeds to expand stETH adoption across decentralized finance or DeFi protocols. For the uninitiated, stETH is a token that represents the staked ETH in Lido, combining the initial deposit value with rewards. Thus, the token enables users to earn DeFi yield rewards.

According to the blog, with the stETH/USD Price Feed launched on Ethereum mainnet, DeFi projects would be able to cite this oracle contract at any given time to get the latest price of stETH when executing on-chain functions. As a matter of fact, the stETH/USD Chainlink Price Feed is already being collectively used and sponsored by a decentralized community of users, which includes several DeFi projects like Aave, Compound, and Enzyme.

Lido Finance is a leading liquid staking protocol that allows users to stake Ethereum [ETH], Solana [SOL], and Terra [LUNA] and receive staked liquidity tokens in return at a 1-to-1 ratio. It is fully DAO-operated and currently supports staking for ETH, LUNA, and SOL.

Chainlink’s data reliabilty

As per the blog, the reason for the integration with Chainlink is to expand ‘the utility of stETH, as users can earn the normal staking rewards from Lido while also deploying stETH as collateral in DeFi’. Apart from that, It would also enable new DeFi protocols to add support for stETH and have immediate access to a secure and reliable oracle solution. Reading along the same lines, Lido added,

“We selected Chainlink as it’s the most time-tested decentralized oracle network in the industry, demonstrating verifiable reliability across multiple blockchains during the most extreme network congestion and market volatility. Not only do Chainlink Price Feeds supply real-time price data with wide market coverage, but it’s a blockchain agnostic oracle solution, which will be critical to aiding in our multi-chain expansion.”

The staking platform is further planning to expand support of Chainlink Price Feeds in the future for its multiple platform initiatives, such as decentralized price oracles for bLUNA, stSOL, and the assets of blockchains that Lido plans to onboard that includes Polkadot [DOT], Avalanche [AVAX], and Polygon [MATIC].

Crypto Betting and Its Infrastructure in India

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Is Online Betting with Crypto Possible and Safe in India?

When it comes to online betting, one of the important factors to check on a site is the payment options. This determines how convenient your gaming experience will be. Fortunately, the majority of online betting sites today offer customers a plethora of payment solutions but now that many online industries are starting to adopt the use of cryptocurrencies, can you also bet with Bitcoin and other cryptos?

Definitely!

Cryptocurrency gambling has been practiced for a while now and many would say that it is convenient and safe. Cryptocurrency holders find that using Bitcoin or other cryptos is the best way to avoid restrictions or limitations that are in place in their location when it comes to gambling.

For example, in India, betting sites that don’t allow transactions if Rupees are prohibited. However, there is still no law that prohibits the use of cryptocurrencies in online casinos and bookies. This is why 10CRIC India Bitcoin betting is a hit in the country.

What to Consider When Betting with Crypto

While it is already possible to bet with Bitcoin, Ethereum, Cardano, and many other altcoins, there are still betting sites that don’t have this option yet. There are also gaming sites that only transact with their customers through the use of cryptocurrencies but most of the time, gaming options on those sites are a bit limited.

Aside from checking if you can use cryptos when betting on certain casino sites or bookies, there are also other important factors to consider. One of these is the reputation of the operator. You can easily check on this by visiting casino review sites. What’s great about going through review sites is that you get to have a deep insight as to how an operator treats its customers.

Most review sites these days are thorough when it comes to giving you all the details you need. It’s a one-stop place to check on details that matter like what payment options are available on the site, what real money games are offered, what kind of sports you can bet on, and many more.

It’s also best that you check on a site’s timelines for giving payouts to their customers. If you’ve been using cryptos for a while now, you probably already know that you may have to pay fees when processing payments. Generally, expect that minimal fees may apply when purchasing cryptos and transacting with them.

Many bettors would also consider how generous a bookie is concerning promos and bonuses. There are many types of bonuses that bookies would offer. Typically, for Bitcoin casinos and bookies, more bonuses are offered because they can afford to do so. On the business side of things, it’s mostly cheaper to process crypto payments compared to fiat currencies. With that, many of them are also trying to promote crypto transactions. Hence offering better bonuses to crypto users.

How Safe is Crypto Betting and What Are Its Other Advantages?

The majority of cryptocurrency users are quick to claim that usage of cryptocurrencies is the safest payment method. It is hard to manipulate Bitcoin transactions because it utilizes blockchain technology. Blockchain is a system of recording information that is impossible to change, hack, or cheat. Every transaction ever made with crypto is recorded and can easily be traced when needed.

Even if this is the case, privacy is still guaranteed because records will only show wallet addresses instead of the user’s actual information. That’s why many gamblers prefer using Bitcoin when playing online.

They get to avoid gambling-related transactions on their bank records. In some countries, people with gambling transactions in the past few months may not be allowed to take out loans or mortgages. With cryptos, this is something that they can avoid. Another advantage is that cryptos are still invulnerable to the impact of geopolitical tensions and government policies. There are only a few countries that have imposed a ban on the use of digital currencies and cryptos are decentralized in nature. This makes Bitcoin a versatile payment option.

If you’re traveling and you want to bet online, fiat currency exchange could be a hassle. You may also end up having less money value once you have your currency exchanged. All that can be avoided if you make transactions with cryptos instead. Since the recent all-time high of Bitcoin, many people showed more interest in cryptocurrencies and even NFT gaming. With that, we can expect that crypto usage will increase in the coming years. As this happens, more businesses including betting sites will be motivated to use cryptocurrencies too.

Dubai World Trade Centre progresses into Crypto

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Dubai that was once known for the 3Ts- Tourism, Trade, and Transport is now adding the 4th T- Technology.

Dubai World Trade Centre (DWTC) marks its expansion in the world of Crypto as an exchange platform and a regulator to virtual assets and cryptocurrencies including digital assets, products, operators, and exchanges. This move broadens the idea of the progression of UAE as the leading global center for business, trade, and technology.

Dubai World Trade Centre (DWTC) will become a comprehensive zone

As a part of the Government’s efforts to create new economic sectors, DTWC will be designing a comprehensive ecosystem for this progressive sector.

The emirate owned media house, on Monday, 20 December 2021, in a press release announced that DWTC will be collaborating with private sectors and relevant entities within the city to create an attractive environment for the sector, and enforce rigorous standards for investor protection, Anti Money Laundering (AML), Combating the Financing of Terrorism (CFT) compliance and cross border deal flow tracing.

The government of Dubai media office has also announced their development about adopting new trends such as NFTs.

“The announcement that comes within the efforts to further develop Dubai virtual assets and markets, includes creating a framework for innovative financial products, adopting new trends that rely on advanced underlying blockchain technology, such as non-fungible token (NFT) and cryptocurrencies.”

According to the source, this progression advances Dubai’s stance as the leading global center for business, trade, and technology. DWTC will over a top-notch administrative structure of Virtual Asset legislative and enforcement policies that will be critical to facilitating and broadening cross-border operations and ecosystem innovation to enable safe market adoption and growth for this sector in the city. 

Dubai and UAE on the whole are known for their welcoming attitude towards digital assets and blockchain technology this sort of rampant developmental advancement, Dubai is at the forefront of the UAE’s attempts to diversify the economy and reinvent itself as a global hub for tech and innovation.