359 days ago • cryptodaily
Best Disrupting Crypto Projects to Watch in 2023
2023 has brought forth a promising array of young projects that are capturing the attention of enthusiasts and investors alike. These breakthrough initiatives encompass a diverse range of areas, offering innovative solutions to some of the most pressing challenges faced in the virtual space. From an innovative social media gamified approach and decentralized personal identification system to advanced infrastructure solutions for seamless interaction with the blockchain, these projects are paving the way for a more accessible, secure, and interconnected crypto ecosystem.
As the world continues to embrace the potential of blockchain technology and cryptocurrencies, these five projects stand out for their ambitious visions and disruptive approaches. With a shared commitment to pushing the boundaries of what's possible, they hold the potential to redefine how we engage with the digital realm and leverage the power of decentralized networks. In this exploration of the most noteworthy young projects in the crypto industry for 2023, we delve into the cutting-edge innovations that are shaping the future of finance, identity management, and decentralized applications.
Cheelee
Cheelee, a Web3 GameFi short video platform that rewards users for watching the feed, changes the way people make money on social media.
Cheelee uses the Attention Economy concept to give everyone a new way of earning an income and a living wage, regardless of age, occupation, or socioeconomic background, and has the potential to redefine the social media industry while helping solve the problem of job automation by AI.
"Cheelee is a game-changing Web3 GameFi short video platform that reshapes the landscape of social media platforms and rebalances the power which was earlier concentrated in the hands of platform owners, bloggers and advertisers. Our platform is not just about watching short videos; it's about empowering users to become more active in their virtual journey," CPO Cheelee Yury Kardonov explains.
To inspire new users to learn its money-making mechanisms, the app gives them a free pair of Starting Digital glasses. Users that upgrade these glasses can increase their initial investment by more than X2. Cheeleers manage to earn up to several thousand dollars monthly with this tool, as seen from their reports on the platform's socials.
Cheelee is going to blow up in 2023 with its governance token, $CHEEL, which has been steadily increasing in value and shows great promise because of its limited supply, high utility, and possible access to almost 5 billion social media users around the world. Cheeleeis already available on App Store and Google Play.
WorldCoin
Meet Worldcoin, a unique cryptocurrency project with a mission to verify people's identities online and combat the problem of bots and fake virtual profiles created by AI. Their special system, Proof-of-Personhood, works by scanning your eyes to ensure you are who you claim to be, preventing multiple accounts and stopping fraud.
"A very central one is, how can you prove that you are a real human (not a bot) and have not yet claimed your free share of the currency, without revealing personal information about yourself like your name or email. Making this work in a scalable and fraud-proof way is hard," explains Alex Blania, co-founder of Worldcoin and Chief Executive Officer (CEO) of the project.
Founded in 2019 by Sam Altman (CEO of OpenAI), Max Novendstern, and Alex Blania, and supported by venture capital firm Andreessen Horowitz, Worldcoin uses a distribution method similar to universal basic income (UBI) to encourage users to join their network. They offer their cryptocurrency as a reward to users who get their iris scanned using Worldcoin's orb-shaped iris scanner.
Worldcoin has been highly successful in raising funds, starting with $25 million in October 2021 and an additional $100 million in just six months, boosting the token's value to an impressive $3 billion. And they didn't stop there, announcing another $115 million in funding in May 2023.
As of January 2023, Worldcoin celebrated reaching 1 million sign-ups, with more than 115,000 new users in December 2022 alone. Their user base is diverse, coming from various countries like Argentina, Chile, India, Kenya, Portugal, Spain, and Uganda. By July 2023, they expanded to over 2 million users, and their World App is rocking with over 500,000 monthly active users.
Arkham Intelligence
Introducing Arkham Intelligence, a company focused on blockchain intelligence. Their platform is designed to reveal information about the real-world entities and individuals connected to cryptocurrencies, giving valuable insights into the cryptocurrency ecosystem. The goal is to remove anonymity from the blockchain and shed light on the identities behind cryptocurrency transactions.
"Our industry has been plagued with bad actors who survive by hiding in the shadows. Crypto intelligence brings them into the light, and that’s what our platform and our research have always done," Arkham CEO Miguel Morel tweeted.
In July 2023, Arkham Intelligence launched a bounty marketplace, enabling people to buy and sell on-chain cryptocurrency data. To facilitate these trades, they introduced the ARKM token as the main currency on the Arkham Intelligence exchange. Currently, as of July 2023, the ARKM token is being traded at $0.75 with a market cap of $113 million. For example, two savvy users of the Arkham platform recently earned a substantial reward of nearly $6,000 for successfully uncovering Do Kwon's wallet.
The initial request to track the wallets of the former head of Terraform Labs was placed on the on-chain data marketplace, Arkham Intel Exchange. Two online detectives took up the challenge and accomplished the bounty hunt with great success, providing evidence that several addresses indeed belong to the businessman. As a result, they were rewarded with 9519 ARKM tokens, equivalent to approximately $5971.
Fetch.ai
Fetch.ai is an open-source machine learning platform, decentralized and based on a distributed ledger. It offers secure access to AI for smart and autonomous services. They've also made Agentverse, a web3 virtual hub, letting users create autonomous agents easily, no matter their technical skills.
The platform's smart ledger combines blockchain with direct acrylic graph (DAG) tech. Transactions can be assigned to different routes, forming a fragmented network. New routes can be created if existing ones get overloaded. Fetch.ai uses UPoW (useful proof-of-work/proof-of-beneficial work), a mix of proof-of-work, proof-of-stake, and other mechanisms.
FET is the primary value exchange on Fetch.ai. It's essential for network exchanges, staking, and rewarding node operators. FET unlocks various operations on the network and acts as the main payment method. It's also needed to find, create, deploy, and train autonomous economic agents.
Fetch.ai's disruptive nature stems from its ability to challenge the status quo in machine learning, blockchain technology, and decentralized applications, offering new solutions and possibilities that can potentially reshape industries and user experiences.
Arbitrum
Arbitrum, developed by Offchain Labs in 2018, is a Layer 2 scaling solution for Ethereum. Its purpose is to address the Ethereum network's limitations, like slow transaction speeds and high fees during busy times. By reducing work and data storage on Ethereum's mainnet(Layer 1 or L1), Arbitrum aims to decrease network congestion and transaction costs, enhancing the speed and scalability of Ethereum smart contracts.
"Our mission at Arbitrum is to scale Ethereum without compromising on security. Notice that we're focused on the result, not the tool. On the end, not the means," wrote Steven Goldfeder, co-founder and CEO of Offchain Labs.
Arbitrum enables users to perform transactions off the main network, which are later verified and grouped before being added to the main chain. This process helps ease congestion and lower gas fees on Ethereum, benefiting decentralized finance (DeFi) projects like Sushiswapand Aave, which utilize Arbitrum to offer efficient swaps with lower gas fees. The platform supports the Ethereum Virtual Machine (EVM), allowing seamless integration with existing Ethereum tools and infrastructure for DeFi developers.
To gain exposure to the Arbitrum network, individuals can consider the governance token, ARB. Holders of ARB tokens can participate in the protocol's decision-making processes, including proposing and voting on upgrades or changes. Additionally, ARB tokens are used to pay for transaction fees on the Arbitrum network. Despite being launched in March 2023, the ARB token has already reached a market capitalization of over one billion dollars.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
360 days ago • cryptodaily
LBank Exchange to List Seven New Tokens in a Week
Road Town, BVI, August 1st, 2023, ChainwireDigital asset exchange LBank continues to focus on providing its users with quality projects to access. For the week starting July 31, LBank has announced its intention to list a total of seven new tokens. These encompass a diverse range of projects.The first token on LBank’s schedule, DBC, was listed on July 31. All DBC-powered platforms are interconnected like a universe, enabling users to learn, play and shop. DBC will be used for membership points and as a means of exchange within the DBear universe. DBC is headed by Man-won Chung, former CEO of SK Telecom which has a market capitalization of $8 billion.The second token, PEPEBURN, also listed on July 31, is a low supply memecoin with less than 1 million tokens created. August 1 then sees the launch of PSUB, an abbreviation of Payment Swap Utility Board and a Klaytn-based blockchain. PSUB forms a circular ecosystem structure between a payments NFT marketplace and online commerce with its own wallet as a hub. In the future, PSUB will form partnerships with various affiliates to expand its platform ecosystem not only domestically but also abroad to solidify its own infrastructure.August 1 also sees the launch of OZON on LBank. This asset takes the role of utility token on a fifth-generation blockchain network. The OZONE blockchain is mainly concerned with digital finance, metaverse, travel, and ecommerce. On the same day, LBS lists on LBank. The token powers a luxury brand distribution, management and payment system using blockchain technology.On August 3, SMETA is to be listed on LBank. Starkmeta is a Singapore-based startup that’s successfully integrated generative AI (ChatGPT) with Unreal Engine 5 and Web3 metaverse games for the first time. It enables users to enjoy social networking with friends and select the products they want with the help of an AI assistant.The following day, DMC lists on LBank. Datamall Chain is an open source blockchain that aims to promote the construction of next generation internet infrastructure. Products will include decentralized storage mining, DeFi, NFTs, cross-chain bridge and cloud storage.For the week running from July 24-30, LBank listed a total of 12 tokens covering NFTs, memecoins, public chains, and GambleFi. Of these, the best performer was Worldcoin (WLD), which rose over 350% since listing.About LBankLBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 9 million users from more than 210 regions across the world. LBank is a cutting-edge growing platform that ensures the integrity of users' funds and aims to contribute to the global adoption of cryptocurrencies.Start Trading Now: lbank.comCommunity & Social Media: Telegram l Twitter l Facebook l LinkedIn l Instagram l YouTubeContactLBK Blockchain Co. [email protected] Blockchain Co. [email protected]
361 day ago • cryptodaily
Arkham Bounty Discovers $160 Million In Alleged Terra Wallets
Controversial Arkham Intel Exchange’s first bounty has unearthed evidence of undisclosed wallets containing $160 million worth of digital assets tied to Do Kwon and Terraform Labs.
Terra had previously claimed that it had exhausted all of its reserves in an attempt to defend the UST stablecoin peg.
Undisclosed Terra Wallets?
Two anonymous on-chain investigators have earned Arkham Intel’s inaugural bounty after providing considerable evidence of undisclosed wallets holding more than $160 million worth of digital assets tied to Terraform Labs and its founder, Do Kwon. This effort allowed the investigators, including one who describes himself as a “glorified accountant,” to win the bounty of ARKM tokens worth around $5000.
The wallets in question contain over 5200 BTC. This figure contradicts Luna Foundation Guard’s previous claims of being in possession of only 313 BTC. The foundation had, back in May 2022, stated on Twitter,
“As of now, the Foundation’s remaining reserves consist of the following assets: · 313 $BTC · 39,914 $BNB · 1,973,554 $AVAX · 1,847,079,725 $UST · 222,713,007 $LUNA (of which 221,021,746 is currently staked with validators).”
The revelations made by Arkham’s bounty hunters could have significant repercussions for Do Kwon. The Luna Foundation Guard’s primary mission was to maintain the dollar peg of its algorithmic stablecoin, TerraUSD (UST). The foundation relied on its reserves of Bitcoin to maintain this peg by purchasing UST from the markets as a final line of defense against UST de-pegging. However, despite its efforts, both UST and LUNA collapsed in May 2022, wiping around $40 billion in value from the markets.
More Insights Expected
Arkham Intel expects more insights related to the wallets in question to emerge over the next few months. However, the issuer of the bounty, in this case, Arkham, maintains exclusive rights to the information unearthed for a period of 90 days. The Terra collapse is often described as one of the most crippling events in the crypto space, triggering chaos in the markets and wiping billions in investor wealth.
Terra founder Do Kwon had been on the run since the collapse but was recently apprehended in Montenegro on charges of traveling using forged documents. The arrest came after the United States Securities and Exchange Commission had accused Do Kwon and Terraform Labs of orchestrating a multi-billion dollar fraud.
Arkham Intel Exchange And Privacy Concerns
The Arkham Intel Exchange is hugely controversial, acting as a marketplace facilitating the trading of on-chain data. Despite the bounty, the platform has sparked considerable debate in crypto circles. Critics have flagged concerns about the potential misuse of private information by bad actors and have suggested that the platform could also facilitate the inadvertent creation of a surveillance marketplace.
However, platform supporters have countered this argument, arguing that such a platform is necessary for unmasking bad actors in the crypto space and giving whistleblowers a secure avenue to disclose crucial information. Arkham Intel CEO Miguel Morel has called for a nuanced approach to the subject, stating,
“You need to think [...] very carefully about what sort of information should be allowed on versus not.”
The platform, launched on the 10th of July, has been described by critics as a glorified snitching service, with concerns that it could dox innocent users. Platform users can place bounties for information related to specific blockchain transactions, which would then be made available after a period of 90 days.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
367 days ago • cryptodaily
Controversial Arkham Intel Goes After Do Kwon’s Crypto Wallets
The highly controversial Arkham Intel Exchange has approved its first-ever bounty hunt, with crypto sleuths set to go after crypto wallets belonging to Terra co-founder Do Kwon.
With Do Kwon currently languishing in a Montenegrin jail, crypto users have long been trying to seek out any information regarding his crypto wallets.
“Deanonymizing The Blockchain”
The Arkham Intel Exchange is a highly controversial platform, acting as a marketplace that facilitates the trading of on-chain data. The platform recently approved its first-ever bounty submission after two crypto sleuths found evidence of crypto wallets belonging to Do Kwon. An anonymous user, along with a pseudo-anonymous Twitter user going by the name of @ErgoBTC, were paid around 9500 ARKM tokens, worth around $5000 for their submission.
“The Arkham Intel Exchange now has its first approved submission: new evidence of wallets owned by Do Kwon / Terraform Labs. An anonymous on-chain sleuth and @ErgoBTC were the successful bounty hunters.”
It further added,
“Expanded labels for the LFG BTC address activity after running off with funds intended for the defense of the UST depeg have been added to Arkham as a part of their bounty program.”
According to Arkham Intel, the anonymous user and Ergo sent the platform considerable evidence they had found wallets owned by Do Kwon and Terra. Ergo stated this evidence contradicts public statements made by Terra that it holds only one Luna Foundation Guard wallet. Luna Foundation Guard stated that 80,081 BTC, which comprised over 99% of its reserves, had exited the fund. LFG had claimed that the reason behind the sale of the crypto asset was to shore up and support the overall health of the Terra ecosystem.
ErgoBTC’s Findings
Ergo shared further details about his research, which was first made public in October when the Luna Foundation Guard claimed it had only one Bitcoin wallet containing 313 BTC. Ergo had written at the time,
“While it may be true that this is the only formally ‘declared’ wallet controlled by the LFG, they seem to have failed to account for the trail of bread crumbs left by the change outputs used to fund their new declared wallet.”
The crypto sleuth continued to track the funds over the next few months and noted that they were moving even after Do Kwon’s arrest in March.
“Kwon may have been rolled up for faking a passport. But LFG and the BTC are still moving.”
The wallet being tracked has been officially christened “Terraform Labs” on the Arkham Intel Exchange and currently holds around $160 million worth of crypto, out of which around $153 million is in Bitcoin.
The Arkham Intel Exchange
The Arkham Intel Exchange was launched on the 10th of July to generally negative reactions by members of the crypto space, with most describing it as a glorified snitching service. Many in the crypto space have also stated that the platform could be used to dox innocent individuals. Users on the platform can place bounties for information related to blockchain transactions, which would then be released to the public within 90 days following approval from the platform. Going by this timeline, information about the Do Kwon and Terra wallets could be available in the public domain sometime in October.
The Terra Collapse
The Terra collapse was one of the most crippling events in the history of crypto when the collapse of its algorithmic stablecoin TerraUSD and its cryptocurrency LUNA triggered chaos in the market. Following TerraUSD’s de-pegging and the ecosystem’s collapse, the United States Securities and Exchange Commission (SEC) charged Do Kwon with securities violations for selling unregistered transactions of crypto asset securities. He was also charged for failing to provide truthful disclosures and providing investors with misleading information.
Kwon’s whereabouts were unknown until March 2023, when he was apprehended by authorities in Montenegro and was sentenced to four months in prison for traveling using forged travel papers. Several other individuals connected to Terra are also under investigation by authorities in South Korea. Recently, co-founder Hin Hyun-seong had his first hearing for charges related to illegal profits from the sale of LUNA tokens.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.