7h ago • cryptodaily
Up and Coming Crypto Exchanges You Need to Know About in 2023
It is no secret that exchanges have continued to play a vital role in the growth of the burgeoning cryptocurrency ecosystem, providing enthusiasts with a platform for trading digital assets seamlessly. They serve as intermediaries connecting buyers and sellers, enabling them to exchange cryptocurrencies for other digital assets or fiat currencies.
One of the main benefits of traditional crypto exchanges is their simplicity and user-friendly interfaces. These platforms typically offer a more straightforward and convenient experience compared to decentralized alternatives, making it easier for beginners to enter the world of cryptocurrencies.
Moreover, they offer a high level of liquidity, something that is essential for efficient trading, as it allows users to quickly buy or sell assets without causing significant price fluctuations.
Lastly, traditional crypto exchanges often offer higher customer support and security. Since these platforms are managed by a central authority, they can invest in dedicated customer service teams that assist users with any issues or questions they may encounter.
In this article, we will list out some of the best up-and-coming cryptocurrency exchanges. So without any further ado, let’s jump straight into the heart of the matter.
Public
One of the fastest growing, most trustworthy $0 commission platforms in the market today, Public offers a comprehensive investment platform that empowers individuals to diversify their portfolios via a range of assets, including stocks, ETFs, treasuries, cryptocurrencies, artwork, and collectibles. On a technical note, the platform offers tailored company metrics, up-to-the-minute market analyses, live shows on market trends, and much more.
Public is a fully regulated broker-dealer but provides protection of up to $500,000 for any securities contained in its users' accounts. Additionally, the platform implements bank-grade security measures such as AES 128-bit encryption, TLS for secure data transmission, and default two-factor authentication (for an additional layer of protection).
Since its inception in 2019, Public has attracted over $300 million in investments. The platform's esteemed investors include Accel, Tiger Global, Sean 'Diddy' Combs, Will Smith (Dreamers VC), Maria Sharapova, Tony Hawk, The Chainsmokers' Mantis VC, and Shari Redstone's Advancit Capital.
MaskEX
One of the fastest-growing exchanges in the market today, MaskEX is a trading platform that focuses on delivering a secure and user-friendly trading experience. Featuring an intuitive interface, it caters to both novice and experienced traders, offering a wide range of cryptocurrencies for portfolio diversification.
Moreover, it comes with advanced trading tools, including real-time charting features, various order types, and in-depth market data, enabling users to make informed decisions and execute their strategies effectively. Security is a top priority for MaskEX, as evidenced by the fact that the platform features multi-tiered security protocols to protect users' assets and personal information. These measures include utilizing cold storage for a majority of its funds, distributed storage systems, multi-signature technology, two-factor authentication (2FA), and encrypted SSL connections.
Recently, MaskEX launched several promotional campaigns aimed at enhancing its clients' profit potential. One such initiative is the "Purchase and Earn" campaign for P2P traders, where users who purchase USDT on MaskEX P2P with supported fiat currencies during the campaign period can participate in a $500 prize pool. Another campaign revolves around the MaskEX Virtual Card, where users who make purchases using the card during the promotional period stand a chance to share in a $1,000 prize pool. Both campaigns will run from April 1st to April 30th.
Pionex
Pionex.US stands out as the top choice for automated trading in the cryptocurrency sphere due to its integrated auto-trading bots, competitive fee structure, and user-friendly interface. Launched in 2019, the Singapore-based Pionex has gained significant traction online by offering an affordable fee schedule along with a suite of 16 built-in trading bots. The US counterpart, Pionex.US, provides spot trading and features 11 available bots, making it the most comprehensive automated solution for cryptocurrency trading.
The platform boasts a range of bots with diverse functionalities, such as purchasing at a dollar-cost average for a single sell-off, automatically creating and rebalancing an index, and implementing various strategies for buying low and selling high. Furthermore, Pionex.US maintains an attractive maker/taker fee structure for spot trades, similar to its global counterpart. Depending on the crypto pairing, fees range from 0.05% to 0% and apply to both manual and bot-assisted trades.
While the platform excels in offering manual and automated trading options, tutorial resources, and customer support, it does have some limitations. For example, it is unavailable in certain states across the US, lacks some key fiat withdrawal options, and has insufficient bot tutorials/explanations on the company website.
PrimeXBT
PrimeXBT is another promising cryptocurrency trading platform that offers a wide array of financial instruments and advanced trading tools to traders from over 150 countries. One of its standout features is its extensive product offering, which enables users to trade cryptocurrencies, forex, commodities, and stock indices, all from a single account.
Additionally, PrimeXBT offers a highly competitive fee structure and employs advanced trading technology to ensure a seamless experience for its clients. The platform supports leveraged trading, offering up to 100x leverage for cryptocurrencies and even higher leverage for other asset classes, enabling traders to capitalize on market opportunities with minimal initial capital. Additionally, the platform delivers an ultra-fast order execution rate (< 7.12 ms on average) and an industry-leading trade engine with real-time risk management. Lastly, all transactions taking place within the PrimeXBT ecosystem are secured using the Amazon AWS framework.
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.
1 day ago • cryptodaily
MakerDAO Constitution Pushes 'Endgame Plan' for $DAI and $MKR
MakerDAO, the decentralized autonomous organization (DAO) behind the DAI stablecoin, recently passed a new "constitution" aimed at formalizing its governance process and bolstering decentralization.This constitution is a key component of the "Endgame Plan" designed to transform MakerDAO into a truly decentralized organization, with DAI potentially becoming the world's reserve currency.
The Maker Constitution acknowledges the inherent resilience of decentralized systems like Bitcoin and Ethereum, which have withstood adversarial events and remain uncensorable. However, unlike these systems, the Maker Protocol relies on human decisions made by $MKR token holders, making it more susceptible to weaknesses and vulnerabilities that could lead to the protocol's failure or loss of user funds.To address these risks, the Maker Constitution employs "alignment engineering," a practice that designs mechanisms, incentives, and shared habits to align the interests of the entire ecosystem. The constitution establishes clear definitions and delineations of roles within the governance framework, ensuring transparency and reducing complexity. It also enforces a separation of concerns, discouraging actions that risk taking the DAO towards governance failure.
Recognizing that budgeting, resource allocation, and control over governance privileges are vulnerable aspects of a DAO, the Maker Constitution emphasizes the importance of robust grassroots community participation. The constitution aims to enforce a self-sustaining equilibrium where MKR token holders can effectively govern the DAO while promoting its growth and adaptation.
In a bid to counterbalance rigidity and immutability, the Maker Constitution introduces a system for incubating and launching SubDAOs, which operate as semi-independent DAOs linked to Maker Governance that enable fast-moving innovation, growth, and experimentation. These SubDAOs also allow for the delegation of responsibility and risk within specific, highly complex areas.
Despite the constitution's approval with 76.04% of MKR votes, some users have criticized it as authoritarian. Critics argue that restrictions on communication from constitutional delegates effectively "muzzle" them and inhibit their ability to gather information.
As the Maker Constitution takes effect, it is poised to play a crucial role in fortifying the protocol's governance, enhancing decentralization, and ultimately, achieving MakerDAO's ambitious Endgame Plan.
The Maker Constitution sets the stage for the document's purpose and vision by acknowledging the inherent strength and resilience of blockchain technology, cryptocurrency, and decentralized finance (DeFi). It highlights how these systems, exemplified by Bitcoin and Ethereum, have demonstrated their ability to withstand adversarial events and maintain security, which is difficult to achieve in centralized systems.
The Maker Constitution, however, acknowledges that the Maker Protocol is fundamentally different from Bitcoin and Ethereum in that it relies on human governance decisions made by $MKR token holders. This reliance introduces weaknesses and vulnerabilities that can potentially result in the protocol's failure or loss of user funds.
While the constitutive aspects of the writing recognizes the importance of addressing full-scale governance attacks, such as takeovers or theft of all DAI collateral, it also emphasizes the need to address slow-moving, slippery slope governance risks, like cultural shifts, creeping misalignment, or structural inability to achieve results. These risks can emerge spontaneously and, if left unaddressed, can pave the way for full-scale governance attacks.
The Maker Constitution highlights the importance of grassroots community participation and alignment with the protocol's purpose as essential tools for defending against these risks. It emphasizes the importance of nurturing a community that transcends mere financial gain, to create a united front that can effectively protect the protocol.
It is precisely in this manner that the Maker Constitution sets the pace for its DAO, emphasizing the need for a robust governance framework that safeguards the protocol against both immediate and long-term risks. This framework aims to foster a strong, aligned community dedicated to promoting the protocol's resilience and success.
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.
1 day ago • cryptodaily
Royce 5’9” Releases Music Video Built in Web3 World
Detroit, USA, 29th March, 2023, ChainwireForging a new path for musicians to use Web3 technologies, the video offers a glimpse into Royce’s new virtual world, the Heaven Experience. "Signs" is the first song released from Royce's New EP "The Heaven Experience: Lost Sessions," available Friday, March 31.In advance of his March 31 release of The Heaven Experience: Lost Sessions, platinum-selling, GRAMMY®-nominated rapper Royce 5'9" has dropped the video for “SIGNS,” the first offering from his new EP. Created with Web3 platform Passage, the video gives fans a sneak peek into the Heaven Experience, Royce’s new virtual world for fans and community.Watch the “Signs” video here.Forging a path for musicians and creators to use Web3 technologies, the video for the high-energy freestyle is built inside an immersive virtual world. In partnership with Passage, the Heaven Experience will offer exclusive opportunities to connect with Royce 5’9” throughout 2023.Of the initiative, Royce 5'9" says, "I have been searching for a better way to connect with my community for a while, but existing platforms haven't lived up to my expectations. Passage delivers on all fronts.”Heaven Experience pass holders will benefit from connecting directly to Royce and his team, real-time engagement with the community and artists, and access to exclusive songs, performances, interviews, events, apparel, and more. Passes for the Heaven Experience will be available on April 4.With the Heaven Experience, Royce 5’9” has doubled down on his commitment to Web3 and community, offering a unique, immersive space to authentically engage with fans. The initiative follows a successful 60-second sell-out of his first NFT offering, which gave fans a percentage of streaming royalties from the critically acclaimed single, “Caterpillar,” ft. Eminem and King Green.By allowing creators to connect directly with their audience in immersive, custom 3D virtual settings, Passage is empowering artists and brands to forge deeper relationships with their supporters and engage in ways that aren’t possible with existing social platforms.Fans interested in joining the Heaven Experience can join the waitlist at heavenexperience.com.Dropping March 31, The Heaven Experience: Lost Sessions EP can be found across all streaming platforms and on sale on iTunes through Heaven Studios Inc. in partnership with The Orchard.Royce 5’9” and Lex Avellino, Passage founder & CMO, are available for interview upon request.About Royce da 5’9”GRAMMY® award-nominated Royce 5'9" has balanced substance and style with the best in music. In addition to selling millions of records with a remarkable solo career, Royce co-founded Bad Meets Evil (with Eminem), Slaughterhouse (with Joe Budden, Joell Ortiz, and Kxng Crooked), and PRhyme (with DJ Premier). Known for confident wordplay, revealing accounts of life in Detroit, and holding Rap peers accountable, Royce is among Hip-Hop's most trusted brands. With a cult following earned by professional accolades in his career, Ryan Montgomery's pedigree is never a question. Instead, through recent releases, including the #1 album Layers (2016), Top 10 and critically acclaimed album The Book Of Ryan (2018), and the thought-provoking GRAMMY® award-nominated Allegory (2019), Royce has been a leader of culture. Once the self-proclaimed "best-kept secret" of Rap, having written award-nominated songs for many artists, this platinum-selling, list-topping MC consistently earns accolades. Partnering with Jay-Z and Roc Nation with the NFL for its "Inspire Change" initiative, Royce 5'9" has gone on to be one of hip hop's leading activists, recently launching his Ryan Montgomery Foundation and its mission to empower underprivileged communities through advocacy, education, and personal enrichment, and joining long-time friend Eminem as the Director of Community Engagement and Social Justice Initiatives for The Marshall Mathers Foundation. For more information, visit royce59.com.About PassagePassage, is a world builder and social layer for connecting physical and digital experiences. Built on Cosmos, Passage is blockchain agnostic and offers a suite of tools to make the Metaverse more accessible: in-browser streaming, cross-world commerce for fungible tokens and NFTs, and 3D communication infrastructure. The Passage ecosystem is fueled by PASG, the native utility token used in Passage worlds. For more information, visit passage.io.ContactsChief of StaffBryana [email protected] & FounderTresa [email protected]
1 day ago • cryptodaily
IoTeX is building the future of mobility on DIMO
Enabling drivers and fleet operators to own and monetize their connected vehicle data
IoTeX continues to take demonstrate why it is the leading DePIN technology provider
DIMO puts vehicle owners back into the drivers’ seat offering enhanced mobility services
IoTeX and DIMO are working to improve the driver and fleet operator experience for millions of vehicle owners worldwide. To kick off the partnership, IoTeX will build a W3bstream integration on the DIMO network and to invest in reducing the cost of the DIMO Hardware for users. IoTeX's goal is to drive the global transformation of mobility services on DIMO.
Integrating W3bstream, the first smart device-to-smart contract off-chain compute infrastructure, onto the DIMO network, allows Web3 developers access to zero-party mobility data, unlocking the potential for groundbreaking automotive dApps that enable consumers and fleet operators to take control of their vehicle data. These dApps will also unlock significantly improved services, including automotive finance, insurance, shared mobility, maintenance, etc.
Numbers that matter
The DIMO-IoTeX partnership aims to improve driver and fleet operator experience for the 250 million connected vehicles on roads worldwide today, which represents 24% of all cars. By the end of this year, that number will increase to 350 million; by 2030, experts expect it to reach up to 2.5 billion. Furthermore, there are reports that data profits could surpass vehicle sales.
A McKinsey report recently revealed that by 2030, 95% of all vehicles sold could be connected, and in that same study, they estimated that by then, data from advanced vehicles could represent a yearly income for their owners of about $600.. Other reports claim profit from vehicle data could soon surpass the cost of the vehicle itself.
"DIMO solves a big problem and puts vehicle owners back in the digital driver's seat of their vehicles," said DIMO Co-Founder Andy Chatham. "Just four months after our network launched 10,000 vehicles that have traveled 50 million miles, more developers and users are starting to recognize that an open approach to vehicle connectivity will win."
"Nine out of ten people believe they own and control their vehicle's data, and that isn't the case today," explained Chatham, co-founder of Digital Infrastructure Inc. "We're excited to have more partners helping us grow the DIMO project into a movement."
An evolving partnership
IoTeX, a Web3 infrastructure platform connecting intelligent devices and real-world data to blockchains, and DIMO, a platform connecting drivers and their data with developers and manufacturers to drive change in mobility services, have plans to evolve this partnership over time to continue delivering benefits to users.
"We are thrilled to partner with DIMO to drive the future of mobility," said IoTeX CEO and Co-Founder Raullen Chai. "Combining our strengths in open, decentralized protocols and data privacy with DIMO's consumer products, open hardware ecosystem, and developer platform, we can create a user-owned digital ecosystem that empowers individuals and communities."
Growing and succeeding
The partnership will provide valuable opportunities for DIMO and IoTeX to grow and succeed in the DePIN sector. The scope of the collaboration includes integration with W3bstream, co-organizing developer hackathons on DIMO Data, co-marketing campaigns, and other initiatives to advance the future of mobility.
IoTeX provides W3bstream, which can be viewed as a machine orchestration layer built on top of a blockchain that can organize and coordinate a set of machines to complete a specific task, enabling developers, businesses, and users to gather data from various sources, including trustworthy gadgets and machines connected to the Internet.
DIMO allows users to create customized digital twins of their vehicles and save money and time with plugins for insurance, maintenance, tires, batteries, and even car sales and financing. Users earn rewards by using apps and services in the DIMO ecosystem and sharing aggregated data. Download the DIMO App here to try it today.
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.
2 days ago • cryptodaily
Nvidia Thinks Crypto Has No Social Impact
Nvidia, the computing software and hardware design firm behind what some have touted to be the cutting edge in terms of processors, has long been a key player in the world of technology. Its silicon substrate designs laid the foundation for technological innovation for over the past three decades, driving progress in various industries.
Nvidia CTO Michael Kagan, however, recently expressed his belief that cryptocurrencies do not "bring anything useful for society," in an interview from The Guardian.
"All this crypto stuff, it needed parallel processing, and [Nvidia] is the best so people just programmed it to use for this purpose. They bought a lot of stuff, and then eventually it collapsed, because it doesn’t bring anything useful for society. AI does." Kagan shares.
Kagan also compared crypto to AI, claiming that the uses of processing power for artificial intelligence engines were somehow more "worthwhile" than mining or computing for proof-of-work blockchains. Despite this assertion, it's essential to examine Nvidia's history and its role in supporting the development of blockchain and distributed ledger technologies, which are shaping a decentralized future.
Nvidia's Silicon Legacy
As a silicon manufacturer, Nvidia has been at the forefront of the tech revolution. Silicon, the second most abundant element on Earth (seventh, if we include the entire known universe), is the primary component in semiconductor materials. Its unique properties have enabled the production of integrated circuits, microprocessors, and memory chips, all of which have played a pivotal role in the digital age. The growth of silicon-based technology has spurred advancements in computing, communications, and various other industries, impacting every aspect of our lives. This also extends to how blockchain technologies were first developed from the mid-80s until the threshold moment in January 2009, which was when the genesis block for Bitcoin was mined.
As technology evolves, the salient prospects of creating cohesively interlinked ecosystems and stacks is increasingly shifting toward decentralization. Blockchain and distributed ledger technologies (DLT) are key to this development, enabling greater security, transparency, and efficiency in various sectors. The rise of Bitcoin and other cryptocurrencies is just one example of how these technologies are reshaping our world.
Considering the legacy of companies like Nvidia, it is vital that they continue to support and nurture the growth of decentralized technologies. While the initial software behind Bitcoin relied heavily on proof-of-work, future implementations of blockchain and DLT may require less computing power as the shift to proof-of-stake becomes more apparent in the case of Ethereum. As a leading computer hardware manufacturer, Nvidia has the potential to contribute significantly to this decentralized future.
Indeed, Nvidia's mixed relationship with cryptocurrencies highlights the need for tech giants to adapt and embrace the changes driven by blockchain and DLT. Roughly two years ago, its competitors such as AMD have also begun their own initiatives into the crypto space. While their GPUs were in high demand for mining cryptocurrencies, the firm has also faced challenges, such as the enforced hashrate limitations and regulatory prompts and warnings for not disclosing the impact of crypto mining on their gaming GPUs.
Crypto's Social Impact
Technology pushes the boundaries of what's possible in the human imagination. It's a bit disheartening to hear of technologists such as Kagan offer a negative prospect about crypto and blockchain, which may be considered as one of the greatest innovations in recent history. While it's true that there have been challenges and inconsistencies in the crypto industry which have led to global market instability, the core technology and the ideals of freedom and financial inclusion it represents is what's important, not the individual aberrations or the prices driving people unto irrational heights.
Cryptocurrencies and blockchain technology have garnered significant attention in recent years, not only for their potential to disrupt traditional financial systems but also for their wide-ranging social implications.
The crypto industry is rapidly reshaping the legacy ecosystems that we've all been mired in: from banking to finance, crypto is changing the paradigm, opening its use to unbanked and underbanked demographics. With a borderless and decentralized financial ecosystem, crypto enables people without access to (or even those who prefer not to) traditional banking services to become active participants in the global economy. This fosters individual freedom and opens opportunities, especially in developing nations.
In the same way, crypto and blockchain tech have also revolutionized philanthropy and social initiatives. With the use of transparent smart contracts, crypto helps ensure funds are used effectively and reach their intended recipients. Tokenization and smart contracts can also be used to facilitate innovative funding models, such as decentralized autonomous organizations (DAOs) focused on social causes.
While cryptocurrencies like Bitcoin have faced harsh criticism for their energy consumption and impact, many projects in the crypto space are actively working on more sustainable solutions. It can also be leveraged to promote environmental stewardship, such as by tracking carbon emissions, enabling peer-to-peer renewable energy trading, and ensuring sustainable land management practices.
It's crucial for companies like Nvidia to recognize the potential of blockchain and DLT in shaping our shared, decentralized future. By supporting and fostering these advancements, tech giants can help usher in a new era of innovation, driving progress across industries and improving the lives of people worldwide.
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. Opinions stated herein are solely of the author's, and hence do not represent or reflect CryptoDaily's position on the matter. The author has no influential stakes in any of the digital assets and securities mentioned, and does not have any significant hold of or own any cryptocurrency or token discussed.