Crypto Guides, Knowledge & Insights

Ankr Project Review: Cloud Computing for the Blockchain

Key Takeaways　　Ankr links idle computing power with blockchains in need of node hosting.　　The ANKR token is used to settle transactions between providers and end-users.　　Theyre capable of providing this computing power for much cheaper than competitors AWS or Google Cloud.　　Ankr is bringing cloud computing to the blockchain. By doing so, theyll be competing with giants such as AWS, but their unique decentralized approach allows them to carve a significant niche in this lucrative market.　　 Disrupting a Trillion Dollar Industry　　The advent of cloud computing has been one of the defining factors of the internet‘s accelerated growth in the last decade. It has also paved the way for Amazon’s rise to become one of the worlds most valuable companies.　　Providing a decentralized approach to AWS, Google‘s Cloud, or Microsoft’s Azure will undoubtedly be a complex challenge, but Ankr offers several advantages. Distributing computing power and storage across the world through a cloud computing model is more secure, reliable, and resistant to censorship.　　Ankr‘s objective is to link idle computing resources with individuals or companies who need them. Ankr’s platform works by linking data centers with idle servers or companies not using all of their computing resources and then linking them with end-users. Transactions between providers

2021-04-20Deep Dive

‘Alarm’ Rings as Crypto Trading Outpaces Stock Market in South Korea

South Korean crypto trading volumes have outperformed stock market activity for the first time in the nations history, with crypto trading gathering pace at a rate some find “alarming.”　　Media outlets such as Yonhap and Segye Ilbo, as well as Kyunghyang Shinmun reported that on April 15, crypto trading volume figures peaked at USD 21.5bn per day.　　The combined daily total for the stock market – the KOSDAQ market plus the sum of the South Korean securities markets and South Korean traders activities on overseas markets – reached USD 18.8bn on average in March. April figures are not yet available.　　The media outlets stated that the USD 21.5bn total had been calculated using CoinMarketCap data from 14 domestic exchanges that support fiat KRW-crypto pairings.　　Meanwhile, traditional investors reported their surprise at the news. Lee Young-sik, a stock market trader with over two decades of experience on the domestic market, told Cryptonews.com,　　“The rush of totally green retail investments to the crypto market is alarming, to say the least. People are on the lookout for a quick buck. They have lost all faith in the real estate market, which many of them now see as inaccessible. But rather than turning to stocks, now they have crypto

2021-04-20Deep Dive

Federal Reserve Bank President Says Bitcoin Is Clearly a Store of Value

The Federal Reserve Bank of Dallas president says bitcoin is clearly “a store of value.” Emphasizing the differences between cryptocurrencies, like bitcoin, and central bank digital currencies, he said the latter “wont necessarily be a store of value.”　　Fed Bank Chief Calls Bitcoin a Store of Value　　The president of the Federal Reserve Bank of Dallas, Robert Kaplan, talked about bitcoin and central bank digital currencies (CBDCs) Friday at the Texas A&M Bitcoin Conference 2021 hosted by Mays Business School.　　Firstly, Kaplan explained that he would distinguish between bitcoin and central bank digital currencies. “I would differentiate between a cryptocurrency, like bitcoin, and the discussions that are being had about digital currency,” such as the digital yuan experiment in China, he described.　　He proceeded to explain that the challenge on bitcoin is “how widely it will be adopted.” The Federal Reserve Bank of Dallas chief elaborated:　　“Right now, it‘s clear it’s a store of value.”　　“It obviously moves a lot in value,” he continued. “That may keep it from spreading too far as a medium of exchange and wide adoption but that can change and that will evolve.”　　The Fed bank chief also confirmed that he and his team “have studied intensely and will keep studying bitcoin

2021-04-20Deep Dive

CoinGecko Launches Art Focused NFT ‘Spotlight’

CoinGecko launched ‘NFT Spotlight’ on their website. Sven Eberwein is the first artist to collaborate.　　One of the longstanding issues in the art world has been bringing clients and sellers together with relative ease. Many often artists struggle to bridge the gap. ‘Spotlight’ is another step by the crypto industry to fill that gap with NFTs.　　NFTs provide a new platform for artists　　CoinGecko has announced the launch of an art-focused NFT named “Spotlight.” The crypto information site has long been a proponent of NFTs, hitting all-time highs in 2020 and even feature an “NFT of the Day” section on their site.　　Non-fungible tokens have exploded due largely to their flexibility as digital assets and the expanding markets embracing them. This ability to explore creativity using these tokens has opened a new trend in the art world. Already we have seen many examples of this with artists like Beeple and Damien Hirst making NFT exclusive works.　　Beeple, AKA Mike Winkelmann, is even setting art records thanks to NFTs. The US-based digital artist recently sold a piece entitled Everydays: the First 5000 Days for $69M in March. The sale was at the legendary Cristies Auction House and became the third-highest price paid for a work done

2021-04-20Deep Dive

PointPay Token Sale Platform Review

PointPay is an ambitious crypto project that aims to become a full-scale cryptocurrency banking ecosystem, already off to an incredible start in its long-term roadmap. Here‘s a deeper look at what PointPay has to offer, why it was awarded “best blockchain startup,” and why you can’t miss the PXP token presale.　　Dont Miss The PXP Presale With Less Than Two Weeks Left　　Only few weeks are left in the PXP token presale, and the PointPay platform is already live and filled with tons of high-value features.　　Buying PXP directly from the PointPay Bank has several levels of benefits that boost the number of tokens awarded during the presale phase, up to 100,000. The highest level also earns an exclusive VIP status.　　Crypto Banking Evolved: The Highest Rates In The Crypto Industry 　　Right out of the gate, PointPay offers world-class blockchain-based banking products with some of the highest rates in the entire crypto industry – rates that eclipse the traditional banking world.　　The worlds first blockchain-based bank lets users open crypto checking and crypto savings accounts and earn daily compound interest on crypto assets.　　Rates range from around 4% to 8% on many top crypto assets, but thanks to the power of the PXP token, PointPay token,

2021-04-20Deep Dive

How Time Magazine Accepting Bitcoin And Altcoins Is A Growing Sign Of Global Adoption

Earlier today, Time Magazine added Bitcoin and 16 Altcoins for payment options on its platform. This is following a new partnership announced with Crypto.com, a crypto exchange platform. With this new development, Time Magazine will allow its users to purchase its digital subscriptions with Crypto.coms CRO coin.　　Subscribers who make a one-time purchase with cryptocurrency will be allowed unlimited access to content across Time.com for the period of 18 months. Additionally, in partnership with crypto.com, subscribers who pay using CRO, the crypto.org coin, will get Pay Rewards of up to 10% back.　　Buy Time Magazine With Bitcoin And 16 Altcoins　　Currently, this service is only available in the US and Canada. Its expected that global access will be available in the next few months.　　TIME President Keith Grossman said:　　“As TIME continues to innovate and find new ways to build upon our existing community of 2.3 million subscribers, we are proud to offer this new payment option through our partnership with Crypto.com,”　　TIME group had also invested in crypto analytic film Chainalysis and revealed that it would be open to adding Bitcoin to their treasury and payment option.　　Kris Marszalek, co-founder and CEO of Crypto.com,　　“We feel very fortunate to partner with TIME,” said “Our mission is to

2021-04-20Deep Dive

Would Coinbase Ever Launch a COIN Token?

Coinbase went public last week, meaning retail investors can now buy its stock on the Nasdaq. Meanwhile, crypto enthusiasts can also buy tokenized versions of the stock on specialty exchanges like FTX and Binance—the token is backed by actual shares of the stock.　　But one thing would-be investors still cant do is buy a tokenized version of the stock issued by Coinbase itself.　　This is a frustration for many: not only would a native Coinbase token delight crypto fans, but it would also improve liquidity, since such a token could be traded outside market hours.　　The frustration is doubled by the fact that Coinbase itself has professed to be in favor of issuing tokenized shares—not just for its own stock, but for all stocks, even the likes of Walmart.　　‘Be as crypto native as possible’　　In a May 2020 interview, Coinbase co-founder Fred Ehrsam told Fortunes Jeff John Roberts, now executive editor at Decrypt, that it would be boring if Coinbase went public without doing anything blockchain-related.　　“Coinbase should constantly challenge itself to be as crypto native as possible,” Ehrsam said. “If we think the future is all assets exist on the blockchain, why should this be any different？”　　This failed to materialize, however, and the exchange

2021-04-20Deep Dive

Bitcoin Adoption: European Outlook

In a study conducted by Chainalysis, Eastern Europe leads the charge among European Union countries in terms of Bitcoin adoption　　 Between July 2019 and June 2020, Eastern Europe accounted for 12% of global cryptocurrency activity　　 Ukraine and Russia ranked first and second in crypto adoption in Europe　　 Regardless of differing crypto regulations in individual countries, the European Commission and European Central Bank have joined forces to create a digital Euro　　The European Union contributes about 22% of all economic activity and 15% of the GDP of the globe, making it a key region for economic activity; naturally, this includes Bitcoin. As the price and popularity of Bitcoin rises, so has the adoption of the crypto. Understanding the impact this has on the economic powerhouse that is the European market, is essential.　　 European Countries Ranked in Bitcoin Adoption　　According to data from Chainalysis, Ukraine and Russia rank first and second in Bitcoin adoption in Europe; Eastern Europe leads the region in Bitcoin adoption.　　The data notes that between July 2019 and June 2020, Eastern Europe accounted for 12% of global cryptocurrency activity. Although the study was not limited to Bitcoin, the leading cryptocurrency accounts for a majority of all transactions.　　During the 12 month

2021-04-20Deep Dive

How SushiSwap’s New Products Could Propel It To The DeFi Top

The DeFi sector saw a sharp drooped in its Total Value Locked, according to DeFi Pulse data. At the time of writing, the metric is recovering quickly and stands at $54.93B. Sitting at the number six spot on the top 10 DeFi protocols by TVL with $3.88B, SushiSwap could be on the verge of taking a leading position.　　Source: DeFi Pulse　　Uniswaps v3 deployment is around the corner, but its competitor remains in the innovative race. Since January 2021, SushiSwap has been taking over the total Weekly DEX Volume, as research firm Messari reported.　　Presently, SushiSwap generates around 15% of the weekly DEX volume. In comparison, Uniswap is responsible for around 11% of the same metric, as shown in the chart below.　　Source: Messari　　How SushiSwaps BentoBox and Kashi operate　　Recently, SushiSwap released a new “aggressive strategy”. Its objective, to grow beyond its current use case as an automated market maker. The strategy revolts around BentoBox and Kashi Lending.　　The first product is a single vault that contains the assets deposited by users and makes them available for DApps “builts off of the vault”, as Messari stated. In contrast with similar products, BentoBox is more efficient when transferring the token, more efficient in terms of gas fees

2021-04-20Deep Dive

Democratizing trading: After GameStop, does more need to be done?

Democratizing finance has been a dominant theme in recent years — with companies vying to create a level playing field and give amateur investors the same opportunities that hedge funds and institutional investors enjoy.　　There have been some successes along the way. Purchasing stocks is a lot easier now than it was a few years ago. The internet has helped to demystify the equities markets… enabling anyone to train themselves in technical analysis and access the latest intelligence. The costs associated with gaining exposure to shares have also tumbled.　　One of the companies that fired the starting gun on this journey was Robinhood — named after the storied figure in English folklore who stole from the rich to give to the poor. The platform was built on the belief everyone should have access to financial markets, making investing “friendly, approachable and understandable for newcomers and experts alike.”　　It was an enticing message — and one that encouraged people to sign up in their masses. But this vision was dealt a massive blow as a result of the GameStop short squeeze, which was spearheaded by the Reddit forum r/Wallstreetbets. A band of retail investors was taking on short-selling hedge funds — driving the stock

2021-04-19Deep Dive

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