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Sologenic price, market cap on Coin360 heatmap

Sologenic(SOLO)

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$0.136681
(3.66%)
0.00000206 BTC
Market Cap (Rank#564)
$54,665,090
824.888 BTC
Vol 24h
$2,733,754
41.252 BTC
Circulating Supply
399,947,699
Max Supply
400,000,000
153 days agonulltx
Young Ukrainian Lawmaker Turns Millionaire with Monero, Now Targets Another Promising Crypto
TLDR Rostislav Solod is considered the youngest lawmaker in Kramatorsk, Ukraine, at just 19. This young boy made millions by investing in Monero (XMR). The young Ukrainian crypto millionaire is now targeting Rebel Satoshi (RBLZ) as the next best crypto investment opportunity. Rostislav Solod is a young Ukrainian crypto millionaire who never found school interesting. […]
167 days agocoindesk
The Handover Begins: TradFi Takes Center Stage in Crypto’s Next Phase
Not only are institutions here, but they’re starting to eat the crypto-natives’ lunches. This is a catalyst for further development and innovation in the digital assets space, say Mark Arasaratnam and Ilan Solot at Marex.
179 days agozycrypto
Analyst Predicts Deeper Pullback for Bitcoin If Price Hits $47,000
Gareth Soloway, a well-known markets analyst, has offered insights into the recent price action of Bitcoin and its potential future trajectory.
246 days agocryptodaily
Beyond Instant Payments: Zebec Launches Modular L3 Nautilus for Scalable Payment Streaming
New York, USA, August 21st, 2023, Chainwire Zebec has launched Nautilus, a modular L3 network that supports its blockchain-based global payment infrastructure. Nautilus enables continuous payment streaming and real-time payroll services on a previously impossible scale. As a first-of-its-kind L3, Nautilus enables more than just instant payments. It can also facilitate Zebec Protocol’s live-payment streaming service at scale, made possible by the fastest EVM environment in web3. Capable of parallel transaction processing, Nautilus is built for scalability, interoperability, and security through interchangeable modules for consensus, settlement, data availability, and transaction execution. This modularity will have a significant impact on how web3 payment infrastructure is composed and adopted. "Zebec is helping to create a future where money moves more freely, providing individuals, businesses, investors, and teams with quicker and easier access to funds and tokens," said Zebec Founder Sam Thapaliya. "Launching the Nautilus Chain, and the new suite of products built on it, is a significant step towards our vision." With Nautilus now live, Zebec’s team is set to bring single-side staking and DeFi yields online in select jurisdictions and power ZebecPay - its live streaming web3 payroll services. Zebec is also in the processof launching a traditional payroll app, WageLink, with a planned integration with Circle. With the Nautilus chain functionality, Zebec is able to offer crypto off-ramps directly linked to US bank accounts (via a partnership with CoinFlow) and roll out Zebec Card programs in Asia and Europe. These products and services will augment Zebec's existing services. Zebec started as a continuous settlement protocol that enabled real-time payments, or payment streaming, allowing businesses to pay employees and partners in real-time in a tax-compliant way. However, the limitations of existing blockchain technology soon became apparent. Networks were either too slow or too unreliable to keep up with demand. To solve the issue, Zebec Labs created a next-generation blockchain: fast enough to facilitate payment streaming at scale, which could, critically, integrate with Ethereum-based chains. Originally planned for Zebec’s core DeFi projects for internal payments and value/assets transfer, Nautilus testnet became one of the most prominent testnets in the crypto world. Having facilitated over 50 million transactions, with 400,000 wallets and 3,000 smart contracts deployed in its first 8 months, Nautilus chain has proven its utility and functionality beyond DeFi and opened to projects from other sectors, such as NFTs, Gamefi, etc., thus becoming a “general purpose” L3. A huge upside to Nautilus’ modular system is that it gives developers the flexibility to configure the “chain stack” they use to build their dApps. A modular chain uses interchangeable modules for consensus, data availability, settlement, and execution. Each of these layers can be configured to developer needs or optimized based on the dApp being serviced. Especially at the execution layer, customized rollups can be deployed that optimize for privacy or scalability, or decentralization — whatever is required by the dApp. Modular chains allow for infinite horizontal scaling and greater levels of interoperability. Since developers build from the same pool of modules, code is safer, more battle-tested, and easier to connect. More rollups and parallel chains can be deployed to increase block space and throughput effectively. Nautilus is a pioneer in this new type of blockchain, and its architecture will permanently change how blockchains are built and bring them into the real world. At launch, Nautilus’ settlement layer is built using Solana’s VM, MOVE, and its execution layer on Neon EVM using Solidity smart contracts. Data availability is stored off-chain using Celestia. Nautilus' initial default execution layer will use optimistic rollups, but the team plans to transition to zkRollups for faster settlements, privacy, and even higher levels of scalability. Nautilus is built with Celestia and Eclipse empowering modular chains. Through Celesita, Nautilus allows projects to tailor their consensus and settlement layers. Eclipse allows builders on Nautilus to deploy customized rollups on their execution layer. The result is a chain with Solana-like speeds but with the security and decentralization of Ethereum. According to its engineers, Nautilus has been tested up to 3,000 TPS, but the team expects the number to increase with the transition to zkRollups. By having such a high TPS, Nautilus chain provides a platform that can keep up with the demands of the real world, opening the door to decentralized markets for financial instruments and assets, such as stocks, bonds, real estate, and tokenized real-world assets. Thanks to Nautilus, Zebec can now operate on a much larger scale. Businesses can pay employees and partners in real time through live payments or payment streaming. Zebec’s goal isn’t merely to provide more efficient payment services; it’s to onboard millions of new users through user-friendly, secure payment apps and new use cases. Zebec’s innovation paves the way for pay-as-you-go payment plans for streaming services, car-sharing platforms, gyms, residential clubs, and more. It enables potential new business models and applications not yet created. As Zebec continues to innovate and grow its ecosystem, it invites developers and founders from around the world to join it in creating a more connected, efficient, and accessible financial future. About Zebec Zebec enables real-time and continuous streams of payments and financial transactions for payroll, investments, and more. It was founded in 2021, with investments from Circle, Coinbase, Solana Ventures, Breyer Capital, Republic, and Lightspeed Venture Partners, among others. Zebec already services hundreds of companies, running thousands of continuous payment streams and bringing the blockchain to our day-to-day lives. Website | Twitter | Discord | Telegram About Nautilus Nautilus is a high-performance real-world payment modular chain. Using celestia and eigenlayer, It delivers high-speed and low-cost transaction processing with a secure and stable decentralized foundation. Website | Twitter | Telegram | Medium Contact Elena [email protected]
246 days agocryptodaily
Beyond Instant Payments: Zebec Launches Modular L3 Nautilus for Scalable Payment Streaming
New York, USA, August 21st, 2023, Chainwire Zebec has launched Nautilus, a modular L3 network that supports its blockchain-based global payment infrastructure. Nautilus enables continuous payment streaming and real-time payroll services on a previously impossible scale. As a first-of-its-kind L3, Nautilus enables more than just instant payments. It can also facilitate Zebec Protocol’s live-payment streaming service at scale, made possible by the fastest EVM environment in web3. Capable of parallel transaction processing, Nautilus is built for scalability, interoperability, and security through interchangeable modules for consensus, settlement, data availability, and transaction execution. This modularity will have a significant impact on how web3 payment infrastructure is composed and adopted. "Zebec is helping to create a future where money moves more freely, providing individuals, businesses, investors, and teams with quicker and easier access to funds and tokens," said Zebec Founder Sam Thapaliya. "Launching the Nautilus Chain, and the new suite of products built on it, is a significant step towards our vision." With Nautilus now live, Zebec’s team is set to bring single-side staking and DeFi yields online in select jurisdictions and power ZebecPay - its live streaming web3 payroll services. Zebec is also in the processof launching a traditional payroll app, WageLink, with a planned integration with Circle. With the Nautilus chain functionality, Zebec is able to offer crypto off-ramps directly linked to US bank accounts (via a partnership with CoinFlow) and roll out Zebec Card programs in Asia and Europe. These products and services will augment Zebec's existing services. Zebec started as a continuous settlement protocol that enabled real-time payments, or payment streaming, allowing businesses to pay employees and partners in real-time in a tax-compliant way. However, the limitations of existing blockchain technology soon became apparent. Networks were either too slow or too unreliable to keep up with demand. To solve the issue, Zebec Labs created a next-generation blockchain: fast enough to facilitate payment streaming at scale, which could, critically, integrate with Ethereum-based chains. Originally planned for Zebec’s core DeFi projects for internal payments and value/assets transfer, Nautilus testnet became one of the most prominent testnets in the crypto world. Having facilitated over 50 million transactions, with 400,000 wallets and 3,000 smart contracts deployed in its first 8 months, Nautilus chain has proven its utility and functionality beyond DeFi and opened to projects from other sectors, such as NFTs, Gamefi, etc., thus becoming a “general purpose” L3. A huge upside to Nautilus’ modular system is that it gives developers the flexibility to configure the “chain stack” they use to build their dApps. A modular chain uses interchangeable modules for consensus, data availability, settlement, and execution. Each of these layers can be configured to developer needs or optimized based on the dApp being serviced. Especially at the execution layer, customized rollups can be deployed that optimize for privacy or scalability, or decentralization — whatever is required by the dApp. Modular chains allow for infinite horizontal scaling and greater levels of interoperability. Since developers build from the same pool of modules, code is safer, more battle-tested, and easier to connect. More rollups and parallel chains can be deployed to increase block space and throughput effectively. Nautilus is a pioneer in this new type of blockchain, and its architecture will permanently change how blockchains are built and bring them into the real world. At launch, Nautilus’ settlement layer is built using Solana’s VM, MOVE, and its execution layer on Neon EVM using Solidity smart contracts. Data availability is stored off-chain using Celestia. Nautilus' initial default execution layer will use optimistic rollups, but the team plans to transition to zkRollups for faster settlements, privacy, and even higher levels of scalability. Nautilus is built with Celestia and Eclipse empowering modular chains. Through Celesita, Nautilus allows projects to tailor their consensus and settlement layers. Eclipse allows builders on Nautilus to deploy customized rollups on their execution layer. The result is a chain with Soloana-like speeds but with the security and decentralization of Ethereum. According to its engineers, Nautilus has been tested up to 3,000 TPS, but the team expects the number to increase with the transition to zkRollups. By having such a high TPS, Nautilus chain provides a platform that can keep up with the demands of the real world, opening the door to decentralized markets for financial instruments and assets, such as stocks, bonds, real estate, and tokenized real-world assets. Thanks to Nautilus, Zebec can now operate on a much larger scale. Businesses can pay employees and partners in real time through live payments or payment streaming. Zebec’s goal isn’t merely to provide more efficient payment services; it’s to onboard millions of new users through user-friendly, secure payment apps and new use cases. Zebec’s innovation paves the way for pay-as-you-go payment plans for streaming services, car-sharing platforms, gyms, residential clubs, and more. It enables potential new business models and applications not yet created. As Zebec continues to innovate and grow its ecosystem, it invites developers and founders from around the world to join it in creating a more connected, efficient, and accessible financial future. About Zebec Zebec enables real-time and continuous streams of payments and financial transactions for payroll, investments, and more. It was founded in 2021, with investments from Circle, Coinbase, Solana Ventures, Breyer Capital, Republic, and Lightspeed Venture Partners, among others. Zebec already services hundreds of companies, running thousands of continuous payment streams and bringing the blockchain to our day-to-day lives. Website | Twitter | Discord | Telegram About Nautilus Nautilus is a high-performance real-world payment modular chain. Using celestia and eigenlayer, It delivers high-speed and low-cost transaction processing with a secure and stable decentralized foundation. Website | Twitter | Telegram | Medium Contact Elena [email protected]
258 days agocryptodaily
LBank Labs Backs Puffer Finance’s Seed Round Led By Lemniscap and Lightspeed Faction
Road Town, BVI, August 9th, 2023, ChainwireLBank Labs, a leading blockchain venture fund, is excited to announce its investment in Puffer Finance alongside investors such as Brevan Howard, Bankless Ventures, Animoca Ventures, and others to help create a capital-efficient and permissionless staking pool through its open-source project Secure-Signer.Puffer Finance recognizes the challenges validators face in the Ethereum Proof of Stake network, such as the risk of losing all ETH staked to slashing penalties. Secure-Signer is a remote signing tool designed to prevent validators from committing slashable offenses, limiting access to validator keys to mitigate the effect of software bugs and user errors to protect stakers from costly penalties that disproportionately impact solo stakers.In addition, Puffer Finance is working on a protocol to lower the barrier of entry for at-home stakers and provide access to additional streams of revenue, allowing for a financially viable alternative to centralized Liquid Staking Providers. With the advancement of Ethereum’s ZK-rollup adoption, Puffer validators can also potentially earn additional revenue through unique restaking services that are exclusive to Puffer’s tech stack.Jason Vranek and Amir Forouzani, Co-founders of Puffer, expressed excitement about the collaboration with LBank Labs, highlighting the synergy between Puffer and LBank Labs’ scale across the market.“We are thrilled to have LBank Labs partnering with us at Puffer Finance. Their deep understanding of the liquid staking, combined with their keen industry insight, makes them an invaluable ally. This collaboration signals an exciting chapter of innovation and growth for us both."LBank Labs aims to focus on its Platform Standard Ecosystem thesis and Puffer Finance stands out as an exceptional example of standard in the liquid staking space. One of the values that LBank Labs sees in its future portfolio companies is ‘how can this project change the industry standard’ “In that perspective, Puffer can contribute to bringing 100 million users to the crypto space with the mission to create universal and fair access to decentralized assets for billions of people”Nathalie, Principal Investor at LBank Labs said: "We believe in the same vision that puffer sees in liquid staking. We look forward to working closely with Puffer to lower the barrier to entry for retail stakers and promote the decentralization on ETH staking."Some of the other investors joining Puffer's latest round include Brevan Howard, Bankless Ventures, Animoca Ventures, and community funds such as 33DAO, WAGMI33, and Concave. Puffer Finance had previously raised $650K in a pre-seed round led by Jump Crypto in June 2022. Additionally, they received the Ethereum Foundation's Grant for developing a public good called Secure Signer, which has already been open-sourced for public use.About LBank LabsLBank Labs, a prominent player in the web3 space, manages a versatile $100 Million fund that extends beyond specific protocols and exchanges. With a team of experienced web3 veterans from prestigious entities, they have built an extensive network of expertise and connections. Their investment strategy includes fund-of-fund investments, direct investments in early-stage projects, and liquid projects, enabling them to explore diverse opportunities. Lbank Labs actively promotes their investment thesis, “The Other Angle,” through engaging discussions and focuses on the PSE principles to foster sustainable growth and innovation in the web3 landscape. With a Fund of Fund network comprising 12 funds and over $1 billion in AUM, and offices in seven global regions, Lbank Labs is well-positioned to expand their network and drive innovation in the web3 ecosystem, together with their partners and collaborators.ContactLBank [email protected]
269 days agocryptodaily
WSJ: Sequoia Capital Reduces Its Crypto Fund
Reports by the Wall Street Journal (WSJ) reveal venture capital giants Sequoia Capital reduced its crypto fund by over 65%. Venture capital firm, Sequoia Capital, has cut its cryptocurrency fund by over 65% from $585 million to $200 million, the WSJ reports citing persons familiar with the matter. Sequoia Capital Downsizes Two Funds According to the WSJ, which cites persons familiar with the matter, the venture capital firm reduced the size of two of its funds, including its Sequoia Crypto Fund. The Silicon Valley-based tech-focused venture capital firm informed investors it would reduce its crypto and ecosystem fund. According to the firm, the adjustments reflect a changed market, with the crypto fund now more focused on investing in newer startups after the market slump reduced its chances to invest in larger projects. The VC firm had invested a sizeable $150 million in the now-collapsed FTX exchange. The WSJ report indicates the Sequoia Crypto Fund has been reduced from $585 million to $200 million. The WSJ also reports Sequoia’s ecosystem fund was reduced from $900 million to $450 million. The firm’s ecosystem fund, reduced by 50%, invests in other smaller venture funds and solo investors. A further report by the Financial Times (FT) states Sequoia returned over “$15 billion to its investors over the past three years.” According to the FT, the firm said: “We made these changes to sharpen our focus on seed-stage opportunities and to provide liquidity to our limited partners.” Sequoia first announced its crypto fund in February 2022 and said it was looking to raise around a $500-600 million crypto fund which invests exclusively in the crypto space. Sequoia Capital India was also the majority investor in a Polygon funding round which saw the Ethereum scaling platform raise a total of $450 million. 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.
294 days agocryptodaily
Bitcoin Mining: A Comprehensive Understanding 
Bitcoin mining is an intriguing and complex subject, one that is central to the operations of the burgeoning BTC network. It plays a pivotal role in the generation of new coins as well as it when it comes to the validation of individual transactions. This article provides a detailed overview of the process, the principles on which it operates, different mining methods, its environmental implications, and future prospects. An Insight into the Process Bitcoin mining, as detailed in Satoshi Nakamoto's seminal whitepaper, performs two critical roles within the Bitcoin network. Firstly, as mentioned above, it contributes to the creation of new BTC, and secondly, it enables the verification and addition of transactions to the blockchain, i.e. a decentralized digital ledger that records all transactions taking place within the Bitcoin network. Miners use powerful computing systems to solve complex mathematical problems in a competitive bid to produce a valid block containing a group of confirmed transactions. Once a miner successfully solves a problem, they add the new block to the blockchain and, as a reward, receive newly minted BTC and a portion of the transaction fees. The Bitcoin mining process effectively protects the network from potential fraud or malicious activities by making alterations to transaction history or Bitcoin forgery nearly impossible. The Fundamentals of Bitcoin Mining Bitcoin mining operates on the basis of the Proof of Work (PoW) consensus algorithm. Here, miners, with the help of powerful computing systems, carry out intricate calculations to produce a hash. The goal is to generate a hash that meets or falls below a specific target set by the network. Over the years, the hardware used for Bitcoin mining has evolved significantly. Initially, miners used standard consumer-grade computers, but today, they leverage Application-Specific Integrated Circuits (ASICs). These specialized devices provide far superior performance and efficiency compared to their predecessors. Another crucial aspect of Bitcoin mining is the "halving" process. Approximately every four years, the reward for mining a new block is reduced by 50%, which inherently decreases the inflation rate of Bitcoin. This process contributes to Bitcoin's scarcity and, subsequently, its value. The Different Facets of Bitcoin Mining As Bitcoin mining continues to evolve, different mining methods have emerged. As pointed out by MaskEX Academy, a one-stop platform for all things crypto devised by cryptocurrency exchange MaskEX, these methods cater to the various needs and preferences of miners — such as solo mining, mining pools, and mining farms. To elaborate, solo mining offers miners the advantage of retaining the entire mining reward and transaction fees, but it often requires high computational power. Conversely, mining pools represent a group of miners who come together and bring their resources together. They then share the rewards proportionally based on the computational power contributed by each. Lastly, mining farms are large-scale operations that involve massive capital investment and continuous maintenance. Environmental Considerations Bitcoin mining's high energy consumption has garnered much debate regarding its environmental sustainability. The massive computational power required for the PoW mechanism often results in high energy usage, contributing to increased carbon emissions. However, sustainable solutions are being explored to mitigate these impacts. For instance, some mining operations are leveraging renewable energy sources, while others use carbon credits to offset emissions. Some innovative approaches even repurpose the waste heat generated by the mining process. The Profitability Equation The profitability of Bitcoin mining is dependent on a variety of factors. These include the efficiency of mining hardware, the cost of electricity, and the current Bitcoin market value. As an article by MaskEX Academy notes, the efficiency of mining hardware is a critical factor, as older, less efficient hardware may not justify its operational costs. Furthermore, electricity prices, being a primary operational expense, can significantly impact profitability as well. Moreover, the hash rate, a measure of a miner's computational power, directly affects the probability of successfully mining a block and receiving the associated rewards. Therefore, balancing these aspects is crucial for the long-term viability of a mining operation. A Peek into the Future The future of Bitcoin mining is set to face several challenges. With the Bitcoin network's difficulty level increasing and block rewards decreasing due to halving, profit margins are expected to shrink. As competition intensifies, the industry could see a trend toward centralization, where only well-funded entities can maintain competitiveness. This potential shift could threaten the security and decentralization that Bitcoin upholds, possibly pushing Bitcoin proponents to explore alternative consensus mechanisms. Despite the challenges, the BTC mining still holds immense potential. As MaskEX Academy points out, the industry's evolution is "a testament to the relentless pursuit of progress and the unwavering belief in the power of decentralization." With continued innovation and growth, Bitcoin mining stands as a beacon of resilience and adaptability in the ever-evolving blockchain landscape.
296 days agocryptodaily
Chiliz 2024 Price Prediction: Uwerx Sees Over A 100% Surge
With thousands of cryptos in the dip, finding tokens that will deliver gains in the short and long term has become a hassle. However, recent analyses have pointed to Uwerx, a new crypto that has defied market odds with its presale and bullish token surpassing expectations. The WERX token has witnessed over a 100% surge due to its utility, with analysts predicting that WERX, which started at $0.005, could reach $1 by Q1 of 2024. This article will give deeper insights into what makes Uwerx unique, its presale, and the 2024 price predictions for Chiliz (CHZ). >>BUY WERX TOKENS NOW>BUY WERX TOKENS NOW<< Uwerx&rsquo;s (WERX) Presale Exceeds Initial Forecasts The speed at which Uwerx&rsquo;s presale progressed is still shocking, as it started just a few months back and is now in its final round, stage 5. The increased demand for WERX has led to increasing the presale WERX quantity to 427.5 million. 72.5 million WERX is available in stage 5, and WERX total supply is 750 million. The WERX price has tremendously increased, as it is now at $0.047725, a huge surge from the starting price of $0.005. The same goes for its launch price, as WERX is set to launch at $0.095 - $0.115. There is an ongoing 15% purchase bonus to further benefit users at the current presale stage. Uwerx (WERX) Has Competitive Advantage Over Centralized Freelancing Platforms A recent report shows that 71% of companies hire freelancers to increase business agility, especially during economic uncertainty. These companies will usually go to freelancing platforms that provide better working conditions and services at a subsidized rate, which is why Uwerx will gain massive adoption. Uwerx will be the first decentralized freelancing platform as it integrates blockchain technology. It will charge only a 1% service fee against the 10 or 20% charged by centralized platforms. Another innovative feature of this project is the Uwerx Vault, which is similar to the concept of staking. The Vault acts as a storage for users to store their tokens while simultaneously providing rewards. Uwerx&rsquo;s Alpha version has been launched and now has features such as Freelancer Profile Creation, Hiring Dashboard Page, Forgot Password, Sign-Up and Logging Pages, Initial Step of Job Creation, Freelancer or Client Initiation, Job Creation Process Page, My Activity Page, Settings, Initial Step of Finding Talent, Milestone, and Application Boosting using the WERX token. The Job Creation Page was revamped to the Post Job and Apply Page to make it easier for freelancers to apply for jobs. Features like Freelancer and Client Dashboards and Tools will soon be released. The platform has gained over 1,825 Telegram members, 1,652 Twitter followers, and 6,953 sign-ups. SolidProof and InterFi Network have conducted audits on Uwerx and approved its security. Uwerx will soon be transitioning to its Beta version, which is now in the works. This will allow users to test the platform. Many developments have been made, and users will be updated soon. The project&rsquo;s success also follows the agile methodology the developers use to release the project in bits while making improvements following users&rsquo; feedback. The team is user-based, welcoming users&rsquo; feedback and putting them into action. This feedback can be sent to their email, [email protected]. Following a modification of the WERX allocations, the team re-assigned only 7% of the total WERX allocation to themselves (previously 8%) and locked their token share, which will last for nine months. This action was hastened by the 82.8% of the community who voted for them to start before the presale ended, and it began on June 7. The presale ends on July 31. The team will give up the ownership of the smart contract immediately after Uwerx launches on centralized exchanges. Also, a Test Airdrop will be conducted to validate receiving wallet addresses for users after 98.2% of the token holders voted for this. Uwerx has all it takes to become a dominating force in the freelancing industry with its fundamental advantages over traditional freelancing platforms. Indeed, it is poised for massive adoption. Its presale is the best opportunity to enter this blue-chip future at an extremely good price. Solook no further! Purchase the WERX token now for a 15% purchase bonus. To join the presale, follow the links below: Website: https://www.uwerx.network Presale: http://invest.uwerx.network Telegram: https://t.me/uwerx_network Twitter: https://twitter.com/uwerx_network Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
308 days agocryptodaily
New Ethereum Proposal Seeks To Increase Validator Limit
Ethereum's journey towards sclability and improved efficiency took a promising turn with the unveiling of a research proposal by an Ethereum research team, consisting of Mike Neuder, Francesco D&rsquo;Amato, Aditya Asgaonkar, and Justin Drake. This proposed solution centers around the increase of the MAX_EFFECTIVE_BALANCE (MaxEB), an Ethereum parameter currently capping the effective balance of Ethereum validators at 32 ETH. A Case for Bloating: Validator Set Size Under the current structure, the MaxEB has inadvertently caused the validator set size to bloat, compelling large-scale staking operations to run a vast number of validators. With over 600,000 active validators and an additional 90,000 in the activation queue, the Ethereum network experiences substantial strain. This proposal asserts that by increasing the MaxEB, it's possible to unblock future consensus layer upgrades, improve the performance of the current consensus mechanism and peer-to-peer (p2p) layer, and enhance operational efficiency for validators of all scales. Preserving Decentralization, Enhancing Efficiency The research team emphasizes the need to maintain Ethereum's core principle of decentralization while simultaneously boosting efficiency. As such, the proposed increase in MaxEB does not tamper with the 32 ETH minimum requirement to become a validator. The aim is for an opt-in approach, offering validators a choice to partake in the changes. Unlocking Ethereum's Roadmap: SSF and ePBS The Ethereum roadmap includes significant consensus layer improvements, such as single-slot finality (SSF) and enshrined Proposer-Builder Separation (ePBS). Currently, these upgrades are hampered by the inflated size of the validator set. Increasing the MaxEB could potentially facilitate the realization of these roadmap goals, which are critical to Ethereum's evolution and efficiency. Relieving the Consensus Layer, Improving Rewards Ethereum's consensus layer experiences high stress levels due to the massive validator set size. A case in point is the multi-epoch delays in finalization the beacon chain faced in May 2023. By opting for an increased MaxEB, validators could choose to keep their stake wjithin the protocol for compounded rewards, thereby mitigating some of this strain. In addition, the proposal outlines potential benefits for validators themselves. A higher MaxEB could democratize the compounding of stake, benefitting solo-stakers, who currently do not earn staking rewards above the existing MaxEB. For large-scale stakers tasked with managing thousands of validators, this change could significantly reduce operational overheads. Assessing Potential Trade-offs While counter-arguments against raising the MaxEB exist&mdash;primarily the appeal of the current simplicity and considerations around committees&mdash;the research team believes the proposed benefits significantly outweigh potential costs. The adoption of this proposal could mark a significant step towards a more sustainable and upgradeable Ethereum consensus layer, offering a feasible solution to Ethereum's scalability challenges. 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.
309 days agocointelegraph
Slow Food: Kenny Schachter reflects on blockchain art’s past, present and future
NFTs might never boom at quite the same pitch they once did. With his first solo show in 25 years, Kenny Schachter sought to demonstrate how that’s a good thing.
334 days agocryptodaily
Zebec's Modular L3 Nautilus Chain Debuts on Mainnet, Paving the Way for the Future of DeFi and Continuous Payments
New York, United States, May 24th, 2023, ChainwireFollowing months of battle-testing by partner projects, developers, and community, production-ready Nautilus Chain graduates from testnet.Zebec, a pioneer in streaming finance, announced today the launch of Nautilus Chain - soon to be Zebec Chain - on mainnet, an important milestone in building its continuous payments infrastructure and global ecosystem. The first of its kind as an L3, Nautilus Chain offers the fastest EVM environment in web3 capable of parallel transaction processing, combining the speeds of Solana with the stability and functionality of EVM-based Solidity smart contracts, paving the way to the next generation of DeFi and consumer applications with a continuous stream of transactions or payments.Nautilus Chain&rsquo;s settlement layer is currently built on Solana node, its execution layer on Neon EVM and Solidity smart contract, with data availability hash stored off-chain in order to keep Nautilus&rsquo; modular blockchain architecture. With plans to transition settlement layer to optimistic roll-up and data availability stored on layer 1 chains such as Etherium, BSC or Bitcoin to further maximize throughput while remaining stable and reliable to support high-throughput payment applications such as payroll, DeFi applications, and on-chain gaming.The mainnet upgrade brings over 80 projects, such as Coral Finance, Witnet, and PoseiSwap to name a few, with dozens more in the process of onboarding and a track record of seamlessly processing over 40 million transactions on testnet to date."Zebec is helping to create a future where money is able to move more freely; giving individuals, businesses, investors, and teams faster and easier access to funds and tokens," said Sam Thapaliya, Founder of Zebec. "The launch of Nautilus on mainnet is another breakthrough on the path towards this vision."Key features of the Nautilus ChainHigh ThroughputThrough parallelizing transactions instead of processing them linearly, Nautilus delivers an initial TPS of 2,000 with much higher rates soon to come.Developer-friendlySolidity developers are able to build high-throughput applications in an EVM environment. While the chain's modular structure supports customization and gives developers control of the tech stack &mdash; or chain stack &mdash; in building dApps. The chain is highly interoperable and extensible and, with app-specific rollups, enables projects to strike the perfect balance between decentralization, throughput, performance, cost, and efficiency.ReliableThe high speeds and performance of the Nautilus chain, because it is a sovereign rollup, do not compromise the overall reliability and security of the infrastructure. Its robust design ensures optimal uptime and resilience, even under the most demanding conditions.Built for the real worldWith its core innovation in performance and security, Zebec&rsquo;s technology has transformative potential in the world of traditional finance, blockchain adoption and smart contract-based digital financial applications."Zebec&rsquo;s progress with Nautilus Chain development has the potential to bridge the gap between traditional finance and web2 payroll applications and the emerging web3 ecosystem." - said Steve Chen, Head of Blockchain Development for Nautilus"By harnessing the unparalleled speed, security, and interoperability of Nautilus, Zebec&rsquo;s technology is poised to revolutionize traditional finance, bringing the benefits of blockchain technology to mainstream industries. As we continue to explore the potential of Zebec&rsquo;s L3 chain, we foresee a future where seamless integration between web2 and web3 applications leads to the eventual replacement of conventional financial systems with blockchain technology and creating a more inclusive and efficient global economy."- Chen continued.As Zebec continues to innovate and expand its ecosystem, it invites developers, companies, and projects from around the world to join it in creating a more connected, efficient, and accessible financial future.About ZebecZebec enables real-time and continuous streams of payments and financial transactions for payroll, investments and more.Founded in 2021, with investments by Circle, Coinbase, Solana Ventures, Breyer Capital, Republic, and Lightspeed Venture Partners among others, Zebec services hundreds of companies, running thousands of continuous payment streams and bringing the blockchain to everyday lives.For more information about Zebec: Official Website | Twitter | Discord | TelegramAbout NautilusNautilus is a high-performance modular blockchain built for real-world DeFi and Web3 applications delivering high speed and low cost of processing transactions within a highly secure and stable decentralized system.For more information about Nautilus: Official Website | Twitter | TelegramContactElena [email protected]
336 days agocoindesk
SuperRare's Latest NYC Gallery Pop-Up Will Bring Human Connection Back to NFT Art
The curated NFT marketplace is running a two-month pop-up of 0x.17 gallery, beginning with a solo exhibition from artist Claire Silver about our future with AI.
348 days agonulltx
TMS Network (TMSN) Flourishes as Goldman Sachs’ David Solomon Acknowledges Its Potential, Leaving BNB (BNB) and Solana (SOL) Behind
TMS Network (TMSN) has been on a record-breaking move leaving both BNB (BNB) and Solana (SOL) in the dust. This move has earned TMS Network an acknowledgment from David Solomon, the CEO of investment banking, securities, and investment management at Goldman Sachs, citing it as a project with great potential. TMS Network (TMSN)  Built on […]
348 days agocoindesk
We Need Regulatory Clarity to Keep Crypto Exchanges Onshore and DeFi Permissionless
The lack of clear crypto regulation risks sending companies overseas. Congress must bring regulatory clarity to crypto market structure, defining the bounds and appropriate legal treatment of crypto securities, commodities, and exchanges, say Jack Solowey and Jennifer J. Schulp.
389 days agocoindesk
Pace Gallery Holds First Web3 Solo Exhibit Featuring Tyler Hobbs
The New York City show, titled QQL: Analogs, features large-scale physical derivations of the generative artist’s popular NFT collection.
2338 days agocryptodaily
How is a Bitcoin made?
So far in this series, we've already talked about what Bitcoin is, about how you can buy it, and how you can spend it, but how is it actually made? Bitcoin vs. Gold The short answer is that new Bitcoins are mined. However, since that is just giving a label, rather than a definition, you&rsquo;re probably going to want to know a bit more than that. It&rsquo;s perhaps easiest to compare Bitcoin to its nearest physical equivalent: gold. Just as existent banking systems are (or at least were) based on the quantity and value of gold in a given country&rsquo;s banks, the security and validity of Bitcoin based on the quantity of Bitcoins currently available in the network. Likewise, the production of new amounts of both gold and Bitcoin meet the same paradox. As mining equipment becomes more and more powerful, so the amount of material to be mined becomes less and less, meaning that more effort is being pumped in to get the same net returns. However, this leads to a predictable and sustainable growth of the amount of either resource in the real world. Of course, in the case of gold, this is just how it worked out. Gold is an element, and therefore cannot be produced or created out of something else, no matter what any budding alchemist might tell you. Recent estimates hold the total amount of mined gold in the world to be somewhere in the region of 187,000 tonnes, with a further 3,000 to 4,000 tonnes being produced as a result of mining every year. As it becomes ever more scarce, new mining techniques and equipment must be discovered and invented in order to maintain that level of production. Bitcoin follows the same pattern, and deliberately so. Being a cryptocurrency, creating new Bitcoins could have been as easy as pressing the hash key on your laptop, but that would have been pointless: a free, abundant, and infinite supply of any commodity leads to devaluation and hyperinflation, and your billions and billions of Bitcoins would be worth less than the laptop that allowed you to make them. As with gold, scarcity and reliability are the cornerstones of Bitcoin. In a white paper that he published in 2008, Bitcoin&rsquo;s creator Satoshi Nakamoto stated that the availability of Bitcoins would be capped at 21 million. By best estimates, almost 17 million of those Bitcoins have been created (or mined) as of 2017. But what of the mining itself? We can picture the notion of mining for gold &ndash; massive drills and diggers clawing out a mountainside to release the gold ore within, and so on &ndash; but what are we actually mining for when it comes to a pseudo-currency? To understand that, we need to talk about transactions, blocks, and blockchains. Transactions A transaction is any activity involving Bitcoins. If you buy a Bitcoin from a vendor, then that is a transaction. If you sell a Bitcoin to a buyer, then that is a transaction. If you purchase goods or services with a Bitcoin, then that is also a transaction. Think of each of them as being a line in a physical ledger, denoting money in and money out. Blocks If a transaction is a line in a ledger book, then a block is a page in the same book, essentially a collection of transactions. In real terms, a block is 1 megabyte (Mb) worth of transactions on the Bitcoin network. As each block (or page) is completed, the next transaction to be undertaken will fall into the next available block. A block is a permanent record of transactions on the Bitcoin network, and one that cannot be erased, removed or amended. Blockchain Again, if a transaction is a line in the ledger and if a block is a page in a ledger, then the blockchain is the ledger itself. Every &lsquo;page&rsquo; filled in is a new block, or a new link on the chain. This blockchain stretches all the way back to the beginning of the Bitcoin revolution and the Genesis block that Satoshi Nakamoto released in 2008. If you purchase a Bitcoin from a vendor, then it is entirely possible, given enough time and patience, to trace the life of that Bitcoin all the way back along the blockchain, working your way through blocks (or pages, to return to our ledger analogy), all the way to the point where your Bitcoin was first created, or mined. Which leads us back to our original question: how is a Bitcoin made, and what is Bitcoin mining? Mining First of all, it&rsquo;s important to realise that mining is just a piece of Bitcoin terminology. What Bitcoin miners are actually doing is auditing and verifying transactions on the network, specifically preventing a thing called double-spending, whereby someone could create an electronic copy of a Bitcoin, and spend it twice. Because every single Bitcoin transaction is held somewhere along the blockchain, the blockchain itself becomes the verification of legitimacy. If a transaction has made it into a block, and that block has made it on to the chain, then the sale or purchase in question was, by definition, a legitimate one. So, in order to maintain that legitimacy, every single transaction must be checked, in detail and in depth, to confirm the provenance of the bitcoins being used in the transaction, which is where the miners come in. The miners perform two tasks &ndash; the first is for the good of the network, and it is the verification of Bitcoin transactions. Once they have verified enough transactions to fill up a block (that is, 1Mb of transactions, you&rsquo;ll remember, which could potentially equate to hundreds or even thousands of lines in our virtual ledger), they will be eligible to win a crop of newly-generated bitcoins. This, then, is the second task. The Bitcoins are generated by the networks own protocols, and are essentially up for grabs. At the moment, each new block allows the miner the opportunity to go for those bitcoins (currently 12.5 bitcoins are being generated, or mined, for each new block), and this is where the competition steps up. You see, verifying a block&rsquo;s worth of transactions is pretty easy stuff. The next stage, to win the bitcoins themselves, only happens if you&rsquo;re the first miner who happens to arrive at the correct answer to a specific numerical problem. In the Bitcoin network, this principle is referred to as proof of work. Proof of work You&rsquo;ll be glad to know that there is no need to have experience with advanced computation skills or mathematics in order to provide your proof of work, as it is all done by your mining software. What that software is attempting to do is to generate what is known as a hash. A hash is a hexadecimal number that is 64-digits long, with each digit being one of sixteen designations (hence the word hexadecimal, from the Greek hexa meaning six, and &ldquo;deca&rdquo;, meaning ten: six plus ten). For Bitcoin purposes, the sixteen possible designations are 0, 1, 2, 3, 4, 5, 6, 7, 8, 0, a, b , c, d, e, and f. Now, the Bitcoin network produces a target hash, completely at random, with no formula for calculation, and no way of predicting it based on previous hashes &ndash; rather like a National Lottery Draw, for instance. Every hash is unique, and prior hashes have no bearing on the future. When a miner manages to complete a box of transaction audits, then they are allowed to have a guess at the value of the target hash, by producing their own hash. If the miner&rsquo;s hash is equal to or lower than the target hash, and that miner is the first one to do so, then 12.5 Bitcoins will be generated (or minted if you want to think in terms of regular currency) and added to the existing pool of Bitcoins available for all. More specifically, those 12.5 Bitcoins are awarded to the miner who guessed the hash correctly. Now, if that all sounds a bit too easy, it almost certainly is. The odds of a lone miner making any serious cash out of mining for Bitcoins are stratospheric. Indeed, the odds of anyone hash producing a result that is under the target hash is less than 1 in a trillion. What allows Bitcoins to continue to be generated, and at such a rate (the average clearance time for a block is 10 minutes, with 12.5 Bitcoins being generated each time to account for same) is that there are loads of Bitcoin miners out there, using very sophisticated equipment and, perhaps more importantly, thousands of linked computers to do the computational work for them. There is dedicated mining hardware and software out there, capable of producing billions of hashes per second, spread over thousands of computers and, even then, there is no guarantee of success. Your newly-generated hash, even if it does meet the criteria, simply might not get there in time. Some other miner, or mining syndicate might have snagged that same hash mere seconds before you but, in the world of Bitcoin mining, the winners get the spoils. Lottery As mentioned above, the odds of a single user just happening to come across the right hexadecimal code in time to cash in are pretty unlikely and yet, with all those Bitcoins being spawned at the rate of 75 bitcoins per hour, and up for grabs, someone has to win it, and it could be a solo user. Think of bitcoin mining as a lottery because, quite literally, that&rsquo;s what it is. While Bitcoin as a currency is one of the strongest and the most stable, getting your hands on those newly-minted bitcoins is going to take more than a little luck. First, there is your work for the network &ndash; that is, your verification of previous transactions, or lines in the ledger, to return to a previous analogy. 1Mb of transactions means that you&rsquo;ve filled a block and that is essentially your lottery ticket, your eligibility to partake in a spot of hashing. Each hash attempt is a line of numbers on your ticket, and each line has a chance of winning the jackpot, so long as the numbers fit into a certain hexadecimal pattern. The good news is that you can submit your hashes as many times as you like, thousands and millions, and billions of times per second, which sounds great, except you probably still won&rsquo;t hit the magic number, as every single newly generated hash retains the same odds of over a trillion to one. Again, just like the lottery, many people think of joining a syndicate. The rationale here is the same. One person, even one person with a decent mining set-up stands an infinitesimal chance of matching a hash. Two people combining hashes stand a slightly better chance, a couple of dozen even better, and a few thousand? Well, you get the idea. More people combining their blocks results in more hash attempts made over a given period of time, and a greater chance of getting the desired result. Of course, whenever you do win, you&rsquo;ll make less, having to share your Bitcoins, or the value thereof with all of your fellow syndicate makers. You may also owe an additional fee to the syndicate organiser, who will normally take a percentage or two of any earnings, on the grounds that he is ensuring the legality of the exchange, and corralling all of the mining efforts of any given syndicate. However, it is a path worth pursuing. With Bitcoin currently valued at around $5,000 per bitcoin, and 12.5 of them available (or $62,500) every 10 minutes a sufficiently large and well-equipped mining syndicate can see decent profits as more people jump on board, prompting more transactions, blocks filled up quicker, and a swifter generation of more Bitcoins into the cybereconomy.
2338 days agocryptodaily
How is a Bitcoin made?
So far in this series, we've already talked about what Bitcoin is, about how you can buy it, and how you can spend it, but how is it actually made? Bitcoin vs. Gold The short answer is that new Bitcoins are mined. However, since that is just giving a label, rather than a definition, you&rsquo;re probably going to want to know a bit more than that. It&rsquo;s perhaps easiest to compare Bitcoin to its nearest physical equivalent: gold. Just as existent banking systems are (or at least were) based on the quantity and value of gold in a given country&rsquo;s banks, the security and validity of Bitcoin based on the quantity of Bitcoins currently available in the network. Likewise, the production of new amounts of both gold and Bitcoin meet the same paradox. As mining equipment becomes more and more powerful, so the amount of material to be mined becomes less and less, meaning that more effort is being pumped in to get the same net returns. However, this leads to a predictable and sustainable growth of the amount of either resource in the real world. Of course, in the case of gold, this is just how it worked out. Gold is an element, and therefore cannot be produced or created out of something else, no matter what any budding alchemist might tell you. Recent estimates hold the total amount of mined gold in the world to be somewhere in the region of 187,000 tonnes, with a further 3,000 to 4,000 tonnes being produced as a result of mining every year. As it becomes ever more scarce, new mining techniques and equipment must be discovered and invented in order to maintain that level of production. Bitcoin follows the same pattern, and deliberately so. Being a cryptocurrency, creating new Bitcoins could have been as easy as pressing the hash key on your laptop, but that would have been pointless: a free, abundant, and infinite supply of any commodity leads to devaluation and hyperinflation, and your billions and billions of Bitcoins would be worth less than the laptop that allowed you to make them. As with gold, scarcity and reliability are the cornerstones of Bitcoin. In a white paper that he published in 2008, Bitcoin&rsquo;s creator Satoshi Nakamoto stated that the availability of Bitcoins would be capped at 21 million. By best estimates, almost 17 million of those Bitcoins have been created (or mined) as of 2017. But what of the mining itself? We can picture the notion of mining for gold &ndash; massive drills and diggers clawing out a mountainside to release the gold ore within, and so on &ndash; but what are we actually mining for when it comes to a pseudo-currency? To understand that, we need to talk about transactions, blocks, and blockchains. Transactions A transaction is any activity involving Bitcoins. If you buy a Bitcoin from a vendor, then that is a transaction. If you sell a Bitcoin to a buyer, then that is a transaction. If you purchase goods or services with a Bitcoin, then that is also a transaction. Think of each of them as being a line in a physical ledger, denoting money in and money out. Blocks If a transaction is a line in a ledger book, then a block is a page in the same book, essentially a collection of transactions. In real terms, a block is 1 megabyte (Mb) worth of transactions on the Bitcoin network. As each block (or page) is completed, the next transaction to be undertaken will fall into the next available block. A block is a permanent record of transactions on the Bitcoin network, and one that cannot be erased, removed or amended. Blockchain Again, if a transaction is a line in the ledger and if a block is a page in a ledger, then the blockchain is the ledger itself. Every &lsquo;page&rsquo; filled in is a new block, or a new link on the chain. This blockchain stretches all the way back to the beginning of the Bitcoin revolution and the Genesis block that Satoshi Nakamoto released in 2008. If you purchase a Bitcoin from a vendor, then it is entirely possible, given enough time and patience, to trace the life of that Bitcoin all the way back along the blockchain, working your way through blocks (or pages, to return to our ledger analogy), all the way to the point where your Bitcoin was first created, or mined. Which leads us back to our original question: how is a Bitcoin made, and what is Bitcoin mining? Mining First of all, it&rsquo;s important to realise that mining is just a piece of Bitcoin terminology. What Bitcoin miners are actually doing is auditing and verifying transactions on the network, specifically preventing a thing called double-spending, whereby someone could create an electronic copy of a Bitcoin, and spend it twice. Because every single Bitcoin transaction is held somewhere along the blockchain, the blockchain itself becomes the verification of legitimacy. If a transaction has made it into a block, and that block has made it on to the chain, then the sale or purchase in question was, by definition, a legitimate one. So, in order to maintain that legitimacy, every single transaction must be checked, in detail and in depth, to confirm the provenance of the bitcoins being used in the transaction, which is where the miners come in. The miners perform two tasks &ndash; the first is for the good of the network, and it is the verification of Bitcoin transactions. Once they have verified enough transactions to fill up a block (that is, 1Mb of transactions, you&rsquo;ll remember, which could potentially equate to hundreds or even thousands of lines in our virtual ledger), they will be eligible to win a crop of newly-generated bitcoins. This, then, is the second task. The Bitcoins are generated by the networks own protocols, and are essentially up for grabs. At the moment, each new block allows the miner the opportunity to go for those bitcoins (currently 12.5 bitcoins are being generated, or mined, for each new block), and this is where the competition steps up. You see, verifying a block&rsquo;s worth of transactions is pretty easy stuff. The next stage, to win the bitcoins themselves, only happens if you&rsquo;re the first miner who happens to arrive at the correct answer to a specific numerical problem. In the Bitcoin network, this principle is referred to as proof of work. Proof of work You&rsquo;ll be glad to know that there is no need to have experience with advanced computation skills or mathematics in order to provide your proof of work, as it is all done by your mining software. What that software is attempting to do is to generate what is known as a hash. A hash is a hexadecimal number that is 64-digits long, with each digit being one of sixteen designations (hence the word hexadecimal, from the Greek hexa meaning six, and &ldquo;deca&rdquo;, meaning ten: six plus ten). For Bitcoin purposes, the sixteen possible designations are 0, 1, 2, 3, 4, 5, 6, 7, 8, 0, a, b , c, d, e, and f. Now, the Bitcoin network produces a target hash, completely at random, with no formula for calculation, and no way of predicting it based on previous hashes &ndash; rather like a National Lottery Draw, for instance. Every hash is unique, and prior hashes have no bearing on the future. When a miner manages to complete a box of transaction audits, then they are allowed to have a guess at the value of the target hash, by producing their own hash. If the miner&rsquo;s hash is equal to or lower than the target hash, and that miner is the first one to do so, then 12.5 Bitcoins will be generated (or minted if you want to think in terms of regular currency) and added to the existing pool of Bitcoins available for all. More specifically, those 12.5 Bitcoins are awarded to the miner who guessed the hash correctly. Now, if that all sounds a bit too easy, it almost certainly is. The odds of a lone miner making any serious cash out of mining for Bitcoins are stratospheric. Indeed, the odds of anyone hash producing a result that is under the target hash is less than 1 in a trillion. What allows Bitcoins to continue to be generated, and at such a rate (the average clearance time for a block is 10 minutes, with 12.5 Bitcoins being generated each time to account for same) is that there are loads of Bitcoin miners out there, using very sophisticated equipment and, perhaps more importantly, thousands of linked computers to do the computational work for them. There is dedicated mining hardware and software out there, capable of producing billions of hashes per second, spread over thousands of computers and, even then, there is no guarantee of success. Your newly-generated hash, even if it does meet the criteria, simply might not get there in time. Some other miner, or mining syndicate might have snagged that same hash mere seconds before you but, in the world of Bitcoin mining, the winners get the spoils. Lottery As mentioned above, the odds of a single user just happening to come across the right hexadecimal code in time to cash in are pretty unlikely and yet, with all those Bitcoins being spawned at the rate of 75 bitcoins per hour, and up for grabs, someone has to win it, and it could be a solo user. Think of bitcoin mining as a lottery because, quite literally, that&rsquo;s what it is. While Bitcoin as a currency is one of the strongest and the most stable, getting your hands on those newly-minted bitcoins is going to take more than a little luck. First, there is your work for the network &ndash; that is, your verification of previous transactions, or lines in the ledger, to return to a previous analogy. 1Mb of transactions means that you&rsquo;ve filled a block and that is essentially your lottery ticket, your eligibility to partake in a spot of hashing. Each hash attempt is a line of numbers on your ticket, and each line has a chance of winning the jackpot, so long as the numbers fit into a certain hexadecimal pattern. The good news is that you can submit your hashes as many times as you like, thousands and millions, and billions of times per second, which sounds great, except you probably still won&rsquo;t hit the magic number, as every single newly generated hash retains the same odds of over a trillion to one. Again, just like the lottery, many people think of joining a syndicate. The rationale here is the same. One person, even one person with a decent mining set-up stands an infinitesimal chance of matching a hash. Two people combining hashes stand a slightly better chance, a couple of dozen even better, and a few thousand? Well, you get the idea. More people combining their blocks results in more hash attempts made over a given period of time, and a greater chance of getting the desired result. Of course, whenever you do win, you&rsquo;ll make less, having to share your Bitcoins, or the value thereof with all of your fellow syndicate makers. You may also owe an additional fee to the syndicate organiser, who will normally take a percentage or two of any earnings, on the grounds that he is ensuring the legality of the exchange, and corralling all of the mining efforts of any given syndicate. However, it is a path worth pursuing. With Bitcoin currently valued at around $5,000 per bitcoin, and 12.5 of them available (or $62,500) every 10 minutes a sufficiently large and well-equipped mining syndicate can see decent profits as more people jump on board, prompting more transactions, blocks filled up quicker, and a swifter generation of more Bitcoins into the cybereconomy.

About Sologenic?

The live price of Sologenic (SOLO) today is 0.136681 USD, and with the current circulating supply of Sologenic at 399,947,699 SOLO, its market capitalization stands at 54,665,090 USD. In the last 24 hours SOLO price has moved 0.007095 USD or 0.05% while 2,893,625 USD worth of SOLO has been traded on various exchanges. The current valuation of SOLO puts it at #564 in cryptocurrency rankings based on market capitalization.

Learn more about the Sologenic blockchain network and how it works or follow the price of its native cryptocurrency SOLO and the broader market with our unique COIN360 cryptocurrency heatmap.

Introduction

Sologenic (SOLO) is a revolutionary cryptocurrency project that aims to bridge the gap between traditional financial markets and the world of cryptocurrencies. By tokenizing assets such as stocks, ETFs, and commodities, Sologenic enables users to trade these assets on the blockchain, providing a seamless and efficient way to access and invest in traditional markets. With its unique approach and innovative technology, Sologenic is poised to disrupt the financial industry and revolutionize the way we invest.

Technology & Mechanism

Consensus Mechanism

Sologenic utilizes a unique consensus mechanism known as Federated Byzantine Agreement (FBA). This consensus algorithm ensures fast and secure transactions by relying on a network of trusted validators. These validators are responsible for confirming and validating transactions, ensuring the integrity and security of the Sologenic network.

Blockchain Technology

Sologenic operates on the XRP Ledger, a decentralized blockchain platform known for its speed and scalability. By leveraging the XRP Ledger's capabilities, Sologenic is able to process a high volume of transactions quickly and efficiently. Additionally, the XRP Ledger provides a secure and reliable infrastructure for the tokenization and trading of traditional assets.

Key Features

Scalability

Sologenic's use of the XRP Ledger allows for high scalability, enabling the platform to handle a large number of transactions simultaneously. This scalability ensures that users can trade assets quickly and efficiently, without experiencing delays or bottlenecks.

Security

Sologenic prioritizes the security of user funds and transactions. By utilizing the XRP Ledger's robust security features, such as cryptographic algorithms and decentralized validation, Sologenic ensures that assets are protected from unauthorized access and fraudulent activities.

Privacy

Sologenic recognizes the importance of privacy in financial transactions. While the XRP Ledger provides transparency and immutability, Sologenic implements additional privacy measures to protect user identities and transaction details. Through the use of advanced encryption techniques, Sologenic ensures that sensitive information remains confidential.

Decentralization

Sologenic embraces the principles of decentralization, empowering users to have full control over their assets. By operating on a decentralized blockchain platform, Sologenic eliminates the need for intermediaries, such as banks or brokers, allowing users to directly trade and manage their assets.

Development Team & Governance

The Sologenic project is led by a team of experienced professionals with a deep understanding of both the cryptocurrency and traditional financial markets. The team is committed to driving innovation and creating a seamless bridge between these two worlds. Additionally, Sologenic employs a transparent governance model, allowing token holders to participate in the decision-making process through voting and proposals.

Use Cases & Potential Impact

Sologenic has a wide range of use cases and potential impact across various industries. By tokenizing traditional assets, Sologenic opens up new investment opportunities for individuals and institutions. It allows users to diversify their portfolios and access global markets with ease. Additionally, Sologenic has the potential to democratize access to financial markets, providing equal opportunities for individuals regardless of their geographical location or financial status.

Purchase & Storage

How to Buy

Sologenic (SOLO) can be purchased on several reputable cryptocurrency exchanges. Users can visit these exchanges, create an account, and follow the instructions to buy SOLO tokens. It is important to ensure that the chosen exchange is secure and reputable.

Wallets & Storage

To store SOLO tokens securely, users can utilize compatible wallets that support the XRP Ledger. These wallets provide a safe and convenient way to store and manage SOLO tokens. It is recommended to use hardware wallets or software wallets with strong security features to protect your assets.

Partnerships & Collaborations

Sologenic has formed strategic partnerships and collaborations with leading players in the financial industry. These partnerships aim to enhance the functionality and adoption of the Sologenic platform. By collaborating with established financial institutions, Sologenic is able to leverage their expertise and resources to drive innovation and create a seamless bridge between traditional and digital assets.

Roadmap

Sologenic has an ambitious roadmap that outlines its future plans and objectives. The roadmap includes the development of new features and enhancements to improve the user experience and expand the range of tradable assets. Sologenic is committed to continuous innovation and aims to become a leading platform for tokenized assets.

Risks & Challenges

As with any cryptocurrency project, Sologenic faces certain risks and challenges. These include regulatory uncertainties, market volatility, and potential security vulnerabilities. It is important for users to conduct thorough research and understand the risks involved before engaging with the Sologenic platform.

Community & Regulatory Compliance

Community

Sologenic has a vibrant and active community of supporters and enthusiasts. The community plays a crucial role in the development and growth of the project, providing feedback, suggestions, and spreading awareness. Through various communication channels, such as social media platforms and forums, the Sologenic community engages in discussions and shares valuable insights.

Regulatory Compliance

Sologenic is committed to complying with applicable legal and regulatory requirements. The project aims to operate within the framework of existing financial regulations, ensuring transparency and accountability. By adhering to regulatory standards, Sologenic aims to build trust and foster adoption among individuals and institutions. In conclusion, Sologenic is a groundbreaking cryptocurrency project that bridges the gap between traditional financial markets and the world of cryptocurrencies. With its innovative technology, unique features, and strong partnerships, Sologenic has the potential to revolutionize the way we invest and access global markets. By tokenizing traditional assets and leveraging the power of blockchain, Sologenic empowers individuals and institutions to trade and invest in a secure, efficient, and decentralized manner.
Sologenic Price0.136681 USD
Market Rank#564
Market Cap54,665,090 USD
24h Volume2,733,754 USD
Circulating Supply399,947,699 SOLO
Max Supply400,000,000 SOLO
Yesterday's Market Cap54,645,524 USD
Yesterday's Open / Close0.129537 USD / 0.136632 USD
Yesterday's High / Low0.13796 USD / 0.126759 USD
Yesterday's Change
0.05% ( 0.007095 USD )
Yesterday's Volume2,893,624.50 USD
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