As data has become synonymous with “digital gold,” it’s no wonder the demand for access to real-time data is skyrocketing. On the same side, as Web 3 or decentralized technologies are emerging, the shortcomings of centralized services within the Web3 stack are being addressed.
Streamr is among such decentralized projects that provide a real-time data infrastructure as it allows data to travel via a global peer-to-peer network that is scalable, robust, and permissionless. Streamr sets itself apart through the use of blockchain technology for data sharing.
Streamr’s real-time data delivery system operates through the help of a P2P or a Peer-to-Peer network in a pub-sub fashion. Pub-sub or Publish-Subscribe is an asynchronous communication model that supports scalable and reliable communication.
Similar to BitTorrent, Streamr is a network of nodes that can pipe messages to one another without intermediaries. However, the key difference between the two is that Streamr is for real-time data streams, whereas BitTorrent does not operate real-time data streams.
Background of Streamr Launched in 2017, Streamr was launched by the founders of Streamr, who believed there needed to be a way to connect billions of devices with real-time data through the help of a decentralized network.
The importance of real-time data must be addressed, particularly due to the growth of DePIN or Decentralized Physical Infrastructure Networks. This is because DePIN helps to move the work of large data centers to non-technical people around the globe, ultimately bringing in huge benefits, particularly of trust.
DePIN is owned and operated by users, making it neither a public nor a private infrastructure. DePINs allow for building real-time data ecosystems, giving stakeholders the power to add value and additional services that help to support the ecosystem.
At the same time, for the development of a decentralized future, real-time data is needed as this helps to power decentralized applications or dApps. DApps need external data to function, and if they remain dependent on the existing centralized data networks, dApps will eventually become liable to all the existing problems that are present in Web 2.
These liabilities include user data being susceptible to cyber attacks, power remaining in the hands of a few, a complete lack of robustness, misuse of private data, monopolistic positions that cause inflated costs, and the risk of a single point of failure.
These issues bring serious concerns to not only the development of decentralized applications but the entire decentralized internet or Web 3, where the promise is to give users more power over their data through decentralization.
Development of StreamrWhile an ecosystem of decentralized P2P networks already exists, Streamr development takes a completely different approach, focusing on real-time data. Through the help of this real-time data, anyone can publish events on data streams, and anyone can subscribe to streams.
First and foremost, Streamr is a P2P network that utilizes a Pub-sub messaging pattern, including one-to-many, many-to-many, or many-to-one streaming. This allows DePIN builders to build in a UP, ACROSS, or BROADCAST fashion, depending upon the different use cases.
For example, DIMO, which is an open and user-owned IoT network that uses Streamr, is built in a UP fashion from Miner to Network. With the help of DIMO, developers can easily access barometric pressure, temperatures, and other weather-related data in real-time. This gives developers who require weather data to power their applications an ideal solution.
In the future, DIMO plans to build in an ACROSS fashion, giving miners more flexibility to connect. This will help to ensure that DIMO’s data stream is completely decentralized and not owned or controlled by any centralized authority.
Streamr 1.0, which is the final milestone in Streamr’s original 2017 roadmap, means when it is implemented, it will lead to the implementation of the network tokenomics, meaning the network is fully decentralized. Anyone can now set up an operator node, and delegators can now delegate their tokens to the operator node.
The Network Tokenomics of $DATAWithin the Streamr Network, both data publishers and subscribers are Nodes in a P2P network.
Nodes that are involved in a stream of data connect one another in a certain way, ultimately helping to form the stream’s topology through which the main function of Streamr Network can be performed.
Therefore, every node that joins a stream does two things: it consumes the data and relays it onwards to other nodes interested in the stream.
To incentivize good nodes who ensure data flows robustly and stably, the honest and stable nodes are paid, forming the basis of Streamr Network Tokenomics. Streamr tokenomics works similarly to the gas price of Ethereum. In Ethereum, users are constantly in a battle to incentivize miners to execute their transactions faster.
On Streamr, users have to pay less or nothing at times if they are happy with the best-effort performance. They can also pay to incentivize nodes to make the stream more robust and secure.
However, it is important to note that Streamr Network tokenomics is not based on buying more access to data on The Hub. On the Network, users pay for infrastructure costs for data delivery. On the application layer, users pay for access to data content.
Users can use the Network for data delivery without using The Hub, similar to a person who can send and receive packages without ordering products or services from online stores.
Streamr Stack The Streamr infrastructure consists of a tech stack that helps to connect and incentivize computers within a global peer-to-peer network. The entire stack is built on top of a decentralized transport layer, which helps to ensure resilience, fault tolerance, robustness, transparency, openness that comes with decentralization, and community building.
To facilitate their goal, the Streamr stack offers the following multilayered technology stack:
Streamr HubThe Hub or Streamr Hub serves as an entry point for developers, helping them to create and connect with live streaming data. The Hub is a portal that leads directly into the Streamr Network and is a step forward towards a more consciously open data approach, all while ensuring it does not undermine any Web3 ethos.
Other than DIMO, there are several other projects on the Hub. The first includes Polygon, in which Polygon Validators are sharing their validator node’s live metrics. The second includes EthWatch, which broadcasts the live stream of Ethereum and Polygon contract events.
Other projects that are built using Streamr include Swash, Redstone, and Unbanks. In the DePIN space, they include MapMetrics, IoTeX, and Peaq Network apart from DIMO.
As the demand for AI is growing, Streamr hub has 90% of the features of an AI marketplace. The smart contracts can be extended to allow users to publish prompts that can get access to the output of a pay-to-access remotely run model.
In the end, the goal of the Streamr hub is to facilitate the discovery and the delivery of what type of data exists out there, give users a comprehensive toolkit for its creation along with its management, and make it simpler for the users to subscribe to a data stream of their choice.
Streamr Network Streamr Network acts as the “transport layer” of the entire Streamr stack. The network handles all messaging in a decentralized data pipeline. This layer consists of primitives known as events & streams and broker nodes.
The Streamr Nodes operate on primitives, and the collection of broker nodes consists of a P2P network that handles the decentralized messaging. The infrastructure layer, on the other hand, uses the Ethereum stack for its operations as node coordination requires robust consensus, which the smart contract implements.
Streamr network has multiple different parts, all of which play an important role in transporting data. These include:
EventsAn event is a timestamped piece of information that contains headers and content. Headers provide the metadata of the vent, which includes its timestamp, content type, and origin. The content gives information on what format the content is in. Both are encoded in a binary format.
StreamsAll of the events that occur are a part of the stream. They are grouped in a logically relatable manner and stored in an ascending order. The entire metadata is stored on Ethereum’s smart contract. Streams carry five different pieces of information, namely user ID, name, description, owner, and permissions.
Publish-SubscribeThe data delivery in the Streamr network follows the publish-subscribe paradigm. Events that occur are promptly delivered to all those who are authorized and subscribed to the stream. This can be limited depending on what kind of access the user has.
Partitioning (Sharding)To achieve scalability, not all the Streamr nodes handle all the traffic. This is because the event traffic within the whole network is divided into several independent parts called partitions. Each broker node handles traffic that belongs to a different set of partitions.
Node CoordinationStreamr uses node coordination, which acts as a key coordinator for the assignment of network partitions to broker nodes in the network. Node coordination also helps to maintain changes when nodes appear and disappear. Streamr network uses its underlying Ethereum network to establish consensus for node coordination in the P2P network.
IncentivizationStreamr incentivizes Operators (who act as the miners on Streamr) to do two things: report the checksums for their assigned partitions to the network and deliver the data to any smart contract subscribers. To incentivize, Streamr sends them $DATA.
Event PersistenceFor Streamr to turn its entire network into a decentralized time series database, the events in data streams persist in the P2P network. The achieved decentralization allows the Streamr network to achieve greater robustness, fault tolerance, anonymity, and lower costs.
Data ProvenanceTo ensure hackers do not manipulate data for their monetary advantage, the Streamr Network cryptographically signs a private key. This helps to attest to the data provenance and ensures that the events on the network always carry a signature that can be verified.
Data ConfidentialityAs anyone can participate in the Streamr network by running a node, all of the event payloads of non-public streams in the Streamr network are encrypted. This encryption is done with the help of asymmetric key cryptography. Such an approach, combined with the help of encryption, brings safety.
Streamr Smart ContractsWhile several Ethereum-based smart contracts support the Streamr Network and The Hub, the Streamr Network also uses its smart contracts. These smart contracts help to improve coordination, permissions, incentivization, and integrity checking.
StreamThe Stream smart contract is the main smart contract that holds static information and carries the permissions for the stream.
Stream RegistryThe stream registry contract holds important information about the known streams in the network.
Network CoordinatorThe network coordinator contract assigns partitions to broker nodes. These Streamr Nodes register themselves with the coordinator and receive updates on the network state by looking at the smart contract.
$DATALastly, in the Streamr stack is the $DATA token, which is a means of compensation between the data producers and consumers. It’s an ERC 20 token that ensures that the payments are handled securely. It also provides interoperability with different wallets and other tokens. $DATA has the following main jobs:
Implement a monetization mechanism for data producers, which helps them act as a data vendor to step in wherever necessary and help the community grow to everyone’s benefit.
$DATA is also an incentive for maintaining and operating a P2P network, as it takes resources, time, computing power, and communication bandwidth. Without such an incentive, Streamr Nodes will not participate, and the entire P2P network in which the real-time data runs will collapse.
The primary application of $DATA includes when developers and subscribers pay for the data they want to get access to using $DATA. Additionally, data producers and the network participants are reimbursed for their participation with $DATA securely and automatically. Tokens can also be earned by running a particular node and then staking $DATA tokens on that node.
Streamr reimburses staking awards through the help of a supply inflation process, which was decided through the help of the project’s governance. In Streamr 1.0, delegated staking was introduced, which allowed token holders to not only run a node but also stake their $DATA in return for a reward.
Stream sponsorships are the final milestone of the Streamr project, as they bring the long-awaited incentive layer that fully activates the $DATA token economy. As streams operate an overlay of the network, stream Sponsorships attract new nodes to join the network. With the help of this, the Streamr network will become more robust from external attacks.
It will also help to prevent the data loss which is caused by node churn. When churn nodes consistently join and leave the stream, it adds instability to the topology, thereby leading to disruption in the message flow.
In other words, through the help of Sponsorships, Streamr nodes will become bulletproof.
Sponsorships work through the help of a smart contract that will release funds over time to operators who have joined them. Sponsors will fund sponsorships, as they will be the ones to create them by defining the terms of engagement.
The smart contract will help to ensure the agreed terms are fulfilled, and then DATA tokens will be transferred. They must deliver on their promise to avoid losing their tokens.
Operators and DelegatorsOperators are Streamr node runners. Operators can join or leave a sponsorship at any given time as long as they agree to the penalties while signing up. Delegators, on the other hand, are the passive liquidity providers for Operators. In return, they will earn revenue from well-performing operators.
The lifecycle of the Stream sponsorship will comprise 5 different steps and is as follows:
Firstly, a sponsorship smart contract will be created, which will describe all policies and parameters. Secondly, sponsors will pay DATA tokens on the agreed terms. Thirdly, operators will join sponsorship by staking on it. Fourth, Operators will join the sponsored stream network and relay data in the stream.
In the last step, if or when the sponsorship runs low on tokens, they can either be “topped up” or the reward will be given based on the configured emission rate. This process will ensure sponsorship contracts act as a decentralized mechanism that helps to manage a stream of earnings distributed within different operators.
Advantages over competitorsThe unique selling point of Streamr is that it provides a real-time data infrastructure of the decentralized web or Web 3, which already sets it apart from its competitors. There are several other advantages that Streamr brings, but other decentralized data storage projects are unable to do so. Some of these include:
Ease of miningUnlike Filecoin, which is one of Streamr’s primary competitors, users have an ease of mining and become a part of the network. In the case of Filecoin, users have to purchase expensive hardware. In addition, users also need to have some experience in systems deployment and administration, which makes it extremely difficult for non-technical people to enter.
In the case of Streamr, the barrier to entry is kept as minimum as possible as the project believes that’s the only way for the blockchain ecosystem to grow.
Fair token distributionThere’s an ever-existing fear of FIL, which is the native token of the Filecoin network to be dumped by its advisors. This is because, at the time of the launch, almost half of FIL supply was given to the advisors at half its existing price. In fact, Filecoin community members alleged 2020 token dumping when an unknown account received 1.5 million FIL tokens.
Meanwhile, Streamr has ensured the supply of its $DATA is done reasonably.
Non-DiscriminativeAnother key area that helps Streamr set itself apart from other projects is that it maintains a neutral stance on data and content.
On the other hand, Arweave has a Democratic Content Policy, which creates a potential conflict as network nodes have the power to issue a blacklist against certain data types, thus hindering the idea of an “open economy.”
Emphasis on adequate user interfaces & appropriate informationStreamr has a major focus on developer user interfaces that are much easier to use and are targeted toward people who have a relatively less technical background. Siacoin, which is one of its main competitors, has yet to offer adequate user interfaces.
A similar issue is also present with Arweave, where the project developers are unable to provide in-depth information that can help developers when they are building on their stack. What Streamr offers is unique as it provides in-depth, dense knowledge in a relatively easy-to-navigate manner to ensure developers do not face any issues.
Analysis of StreamrThe importance of data, especially one that runs in a combination of a real-time data market and the data pipeline, all while remaining decentralized, is transformative for the entire Web3, particularly because this gives a decentralized ecosystem exposure to data that has never existed before all while remaining true to decentralization.
Streamr maintains its tech stack layered and modular to allow non-tech individuals to participate in the network in one capacity or another.
It also hosts a publish-subscribe mechanism, which is a framework for exchanging messages between publishers and is widely used in Web2 due to its reliability. Streamr uses the same framework while making it decentralized, spread across different nodes rather than concentrated in one area, similar to centralized technologies.
To ensure transactions are scalable, with minimum latency, Streamr divides its throughput scales linearly. This allows the network not just to scale but also to process millions of events per second.
Streamr also allows users to sell their data directly, which gives them the power to monetize their data, all while knowing which companies and industries are using their data. Through the help of this transparency, users will be empowered, unlike in a centralized system where power is monopolized.
Anyone who owns a personal computer or a laptop can become part of the Streamr network by becoming a node operator and earning yield on staked tokens.
Emerging use cases of StreamrProving its versatility and adaptability, Streamr has the potential to revolutionize different industries and applications. Some of the emerging use cases of Streamr include:
[1] Video StreamingTraditional streaming services often need help with bandwidth limitations and central server outrages. Streamr’s P2P network can help distribute video content more efficiently by reducing latency as stream viewers become P2P distribution nodes as they consume the stream. This will help to improve the user experience.
[2] Decentralized AIStreamr helps to provide a strong infrastructure for real-time data collection and distribution. This is critical for training AI models, ultimately ensuring that AI systems can function without the hurdles present within centralized data servers. This helps to enable more efficient and scalable AI solutions.
The Streamr developer community has already developed the next generation of AI technologies. Some of these AI technologies include the Streamr node AI plugin, AI video distribution, LLM routing, AI chat, Verifiable AI, AI Audits, and AI data crowdsourcing.
As the need for decentralized data exchanges has become more apparent, Streamr can provide help to the entire Metaverse ecosystem. This can be done by providing a foundation for real-time data transmission that will enhance the interactivity and responsiveness of the virtual metaverse worlds.
[4] Web 3 GamingAs the importance of real-time data exchange and decentralized infrastructures is maintained in the fast-growing world of Web 3 gaming, Streamr provides a strong solution. It offers a platform where game developers can build decentralized gaming experiences with real-time player interactions and data exchanges.
[5] dApp MessagingDecentralized applications (dApps) at times rely on centralized servers for messaging, which leads towards a contradiction of Web 3 ethos. Streamr brings a solution as it can provide a decentralized messaging platform that enables dApps to embrace decentralization.
Final Thoughts Decentralization is a much-awaited answer that users are looking for due to their declining trust in large corporations. With data becoming an integral part of our day-to-day lives, it is only necessary to ensure it does not become monopolized in the same manner as that of several other industries.
Projects like Streamr bring an important answer to the problem, giving users the utmost possession and freedom over their data. Streamr allows users to access data in real-time, which empowers the existing infrastructure by allowing it to become more decentralized.
Streamr is bringing this power transfer to individuals, all while improving user privacy, resilience, fault tolerance, and efficiency. This will help the future of the internet to become more connected and decentralized, with the users having more freedom over their data and power over important decisions.
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Bpifrance, a state-owned French bank, has announced that it will buy $27M worth of crypto.
Unlike the likes of Japan, Hong Kong, and businesses like MicroStrategy, though, Bpifrance will only invest in projects that support local blockchain and crypto development.
Keep reading to find out Bpifrance’s investment strategy, how the US’s crypto push is accelerating global crypto adoption, and which could be the next crypto to explode as a result.
A Move to ‘Strengthen the French Blockchain System’ As mentioned earlier, what’s interesting is how France is modeling its push for digital assets. It doesn’t just want to ride the crypto wave; it wants to be a part of it.
Furthermore, the investment will benefit local crypto and blockchain projects involved in all major crypto-related niches, including decentralized finance (DeFi), tokenization, staking, and AI.
We are convinced of the growing importance that these players will take on in the years to come, and we want to increase French competitiveness and presence in the field of digital assets – Arnaud Caudoux, Deputy CEO of Bpifrance
It’s also worth noting that this isn’t Bpifrance’s first crypto rodeo. In 2014, it invested in a hardware wallet firm called Ledger (yes, that Ledger). It has also made crucial contributions in ACINQ, Morpho, and Aleph.im.
With the new pro-crypto Trump administration pushing for lenient crypto regulations and announcing their desire to make the US the crypto capital of the world, countries like France are taking note and rallying in support of local talent.
The global crypto push is only getting started, and with conventional economic superpowers racing for the top seats in DeFi and blockchain tech, there’s undoubtedly a fortune to be made in this new-age investment niche.
To help you make the most of the world’s new-found (and potentially long-lasting) love for crypto, we’ve handpicked three top cryptos you should consider buying right now.
1. BTC Bull Token ($BTCBULL) – Most Likely to Be the Next Crypto to Explode in 2025 The market’s love for Bitcoin – which is a direct reflection of the US government’s support for it – has well and truly ushered in a ‘digital gold rush.’
BTC Bull Token ($BTCBULL) is, therefore, the best altcoin to buy right now, seeing as it gives you front-row seats to Bitcoin’s success – but at a fraction of the cost.
That’s because it will give token holders free $BTC. We’re also impressed by the fact that these Bitcoin giveaways have been masterfully scheduled to take place every time $BTC reached a new milestone – such as $150K, $200K, and $250K.
The only other thing you should take note of is to buy and hold $BTCBULL in Best Wallet, as that would qualify you for automatic $BTC airdrops.
Moreover, there will also be a token burn event when Bitcoin reaches $125K, $150K, $175K, and every subsequent $25K price point.
As you might have guessed, this will contract supply, which would then increase the token’s demand – and ultimately its price.
$BTCBULL is currently in presale ($4.2M+ raised), meaning you can buy it for a low price of $0.002435.
Check out our BTC Bull Token price prediction to better understand why we’re so excited about it – and here’s a guide on how to buy it.
2. Solaxy ($SOLX) – Top Altcoin Building First-Ever L2 for Solana Solana has been a huge facilitator for meme coins, offering a low-cost and highly scalable blockchain network – exactly what meme coin developers are after.
However, things haven’t really been ideal for Solana for the last few months.
The launch of $TRUMP, $MELANIA, and Pump.fun overloaded Solana, and it has been struggling with scalability, congestion, and failed transactions.
It will offload a hefty portion of Solana’s total transactions onto a sidechain, thereby reducing the burden on the blockchain’s mainnet.
It’s worth noting that $SOLX is a multi-chain token – it’s designed to benefit from not only Solana’s speed but also Ethereum’s vast liquidity pool.
Thanks to its one-of-a-kind application, the Solaxy presale has seen unprecedented interest from investors. It has already raised over $28M, and we’re still a long way out from its end.
You can join one of the biggest crypto presales for just $0.001676 per token. If this is your first presale purchase, here’s a detailed guide on how to buy Solaxy.
3. Ghiblification ($GHIBLI) – New Meme Coin Dominating the Market Ghiblification is the perfect example of what meme coins truly embody – surreal gains within a short period thanks to community backing and market hype.
A new version of ChatGPT is currently all the rage on the internet. It allows people to transform just about any picture – a popular sports event or a personal picture with a partner – into the famous Ghibli-style animation.
Studio Ghibli, by the way, is a renowned Japanese animation studio and the creator of popular movies like ‘Spirited Away.’
After launching on the exchanges just over a couple of days ago, $GHIBLI is already up over 31%. This includes a mind-blowing 91% gain in the last 24 hours.
The token is currently trading at $0.03205. Given that the hype for these AI-generated animated pictures is still alive and kicking, $GHIBLI could well replicate $BROCCOLI’s returns.
Bottom Line With another country joining the crypto fray, the above-mentioned trending cryptos are in the best position to benefit from crypto’s next rally.
Despite the promise being shown, though, it’s crucial you only invest a sensible amount because crypto – and particularly meme coins – is unpredictable.
Also, kindly do your own research before investing, as none of the above is financial advice.
Xai, the layer-3 gaming network built on Ethereum scaler Arbitrum, kicked off 2024 with a bang, launching its XAI token to early supporters and then announcing that noted NFT game studio Laguna Games will bring Crypto Unicorns and related titles to the network.
So what’s next? More games, of course.
Ex Populus, which co-founder and CEO Tobias Batton described to Decrypt’s GG as the “labs company that serves the Xai Foundation,” is a game studio—and its games are set to be the first out the gate in the coming months as the Xai ecosystem takes shape.
The first, called Final Form, is a card-battler game with NFTs. According to its official website, the game will support NFT cards previously released on Solana via a bridge to Arbitrum. Batton said that the game is “penciled in for April,” but that the ETA could change. He said the game is playable and “moving into a polish phase,” so it can’t be far off.
LAMOverse is the other game from Ex Populus, and it’s a long-in-development online action game with colorful, cartoonish environments. Tied into physical LAMO toys based on gaming influencers like Ninja and Dr. Disrespect, LAMOverse is set to debut sometime after Final Form, and the game studio says it’s likewise playable and nearing a proper launch on Xai.
Batton recounted that Ex Populus spent substantial time seeking an ideal gaming chain for its projects and said that it explored building on other Ethereum scaling networks like Polygon or Immutable X. But, he said, each chain the studio tried had trade-offs that made the team “not enthusiastic” about committing to those ecosystems.
Ultimately, Arbitrum creator Offchain Labs proposed building a custom gaming chain that would suit the needs of Ex Populus while also providing a home for other studios in the future. Thus Xai was born.
In this team-up, Batton said, Ex Populus built the software that powers the Sentry Nodes that early users have purchased to support the Xai network. It also makes games and works in a publisher-like role to help other studios onboard to Xai and get their games in front of players.
That’s the kind of role that Ex Populus will serve for Laguna Games as it migrates its Crypto Unicorns games and associated NFTs from Polygon to Xai this year. And Batton said that he’s seen a “massive influx” of other studios reaching out since the airdrop to get involved with Xai, whether they’re building new games or migrating from existing chains.
In this dual role of game developer and distribution partner, Batton said that Ex Populus is attempting to be the Web3 version of Valve. That gaming powerhouse is known not only for operating the popular Steam PC gaming store, but also developing iconic games like Half-Life, Portal, and Counter-Strike. Fortnite maker Epic Games has charted a similar path.
Ex Populus doesn’t yet have the storied gaming legacy of those long-running giants, of course, but it also faces the immense challenge of trying to convince traditional gamers that user-owned NFT assets and crypto-driven economies are beneficial. And gamers have broadly not been too receptive to such overtures in the past.
What could make that easier is the way that the Xai network abstracts away the complexities of wallet use and asset handling for users who don’t want to get deep into the “crypto” of it all. Your average player doesn’t have to worry about self-custody of NFTs or tokens, plus Xai provides a gas-free experience for players.
“We had this crazy idea that if you remove wallets and remove gas from everything, that you can experience large growth,” Batton explained. “Really, the benefits of blockchain are the ability to trade items and own items—all the stuff we always hear about—but there's a tremendous amount of friction that stands in the way of that.”
There still are wallets, but for traditional gamers, they’re managed in the back end by the Xai team. And if you’d rather bring in your own wallet and self-custody your assets, that option is certainly available for veteran crypto users.
“As a traditional gamer who maybe isn't familiar with crypto or is a little averse to it, these games just seem like a normal game,” said Batton, who added that there would be wallet management features in the settings. “And then you're like, ‘Oh, I have a wallet. I didn't even know it.’ So it sort of breadcrumbs people into this experience in a way that doesn't seem so obtuse.”
our competitors aren't treasure, imx, ronin, or beam.
our competition is nintendo and valve.
decentralized gaming is inevitable.
— XAI (@XAI_GAMES) January 29, 2024
It’s been a busy couple of months for Xai. The Sentry Node sale, which let users invest in supporting the network and receive an allocation of XAI tokens, was a sizable success with about $30 million in sales. And the XAI airdrop that followed certainly made waves, putting over $150 million worth of tokens (at peak value) into users’ wallets.
But as Batton described, the journey dates back to 2022. It’s been a steady rise in prominence and buzz, in his view—and the biggest moves are still yet to come as games start going live on the network.
“It’s a grassroots approach—it didn't happen overnight,” he affirmed. “It took months and months and months of building this hype and this community and excitement.”
“Having Laguna agree to deploy their games is a big deal, because before this news, it was just hype. It's just an empty chain,” Batton added. “But now it's not an empty chain. It's got real games coming.”
Edited by Ryan Ozawa.
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November 27, 2024
Andreas Brekken, the founder of SideShift.ai, a platform offering direct-to-wallet trading, sat down (in his hammock) for an exclusive interview with the Cryptonews Podcast.
Talking with host Matt Zahab, Brekken recalled how difficult it was for people to buy BTC in 2011, noting that the ease of purchase today contributes to its adoption.
He remarked that meme coins are actually great for the crypto space because they are fun, cheap to get, and generally harmless. Importantly, they are stress-testing the biggest chains in the sector.
The crypto veteran talked about multiple markets happening simultaneously and the potential significance of the Ethereum Dencun upgrade.
Brekken also touched upon the necessity to re-examine our interaction with centralized exchanges and the need for services like SideShift.
In this interview, Brekken discussed:
Buying BTC in 2011 vs. today; Multiple markets currently happening at the same time; Rethinking how we interact with crypto exchanges — particularly as the bull run ushers in a new wave of mainstream adoption; How products like SideShift encourage mass adoption; The Ethereum Dencun upgrade; If meme coins are generally good or bad for the crypto space; How increased meme coin trading will show us the limits of current protocols, forcing chains to compete with each other to show who can handle the most traffic.
Brekken gave a wide-ranging exclusive interview, which you can see above or read below.
How the Bitcoin Times Have Changed!
Brekken discovered Bitcoin in 2011.
At that time, he said, there were very few routes for people to get BTC. One option was dark web markets, including the infamous Silk Road.
“But in my case, I’m just too much of a nerd,” Brekken remarked. He didn’t know about this avenue at the time.
But he had an advantage over an average Joe: he was a programmer.
Therefore, Brekken discovered information on BTC online and started learning about the novel technology.
Notably, at the time, anyone interested in BTC needed to install a program on their PC to get it. This program would create addresses and allow users to find a place to buy the coin, receive it, and send it.
This was obviously a much more difficult system than what we have today.
But Brekken said another advantage a programmer or engineer would have at the time is the way they view and think of technology.
They seek to understand how it’s made and how they can build upon it. They’ll to to find a way to improve it, create something similar, find another use case, etc.
Not every shiny coin on social media will lead to generational wealth.
AI recommends DYOR and safe trading.
Good job! 🎈 pic.twitter.com/q4O0SXuMFO
— SideShift.ai – Direct to Wallet Trading (@sideshiftai) March 24, 2024
Direct-to-Wallet Trading: Recipe for Mass Adoption
And this is how SideShift.ai was created. There was a way to make a piece of tech that would help fulfill a demand, and Brekken went for it.
The team developed an efficient, easy-to-use, newcomer-friendly platform that offers direct-to-wallet trading.
When one uses a centralized crypto exchange, there are many steps to complete before finally getting the coins.
This includes all the necessary log-ins, 2FA, KYC, choosing the deposit, finding the network, waiting for confirmations, and so on, says Brekken.
However, it can get more complicated in certain cases, such as buying a specific meme coin. For example, the user needs to trade BTC for UDTS first before getting WIF.
SideShift.ai performs the trade immediately and delivers the coins to the wallet, the founder said.
// USD WEEKLY SHIFT VOLUME – APR 9 TO 15 //
SideShift recorded a gross weekly volume of $22.9m alongside a SHIFT count of 11,669 shifts. These figures combined to produce healthy daily averages of $3.3m on 1,667 shifts. pic.twitter.com/8urons5elK
— SideShift Research (@XAIResearch) April 19, 2024
“That’s why we call it direct-to-wallet trading because it’s the only way I know to explain that you don’t have to click 700 buttons in order to do something as simple as just going from what you have to what you want.”
There was lots of demand for this service, he added.
But speaking of exchanges, Brekken gave a warning: take your funds out.
The more long-term view for this industry is that people need to stop leaving their money on exchanges. It’s a huge problem, he said.
Simply said, the incentives are not aligned between the user and the exchange.
The exchanges have full control over users’ funds and make money off of it.
Also, they may use the funds without telling users, be attacked, do a rug pull, etc. There are too many red flags.
Oui oui! SideShift about to be available directly in the Ledger wallet https://t.co/ytGDcUxwHN
— Andreas (@abrkn) April 16, 2024
AI In Name Only
Brekken briefly touched on the ‘AI’ part in ‘SideShift.ai.’
“I’m going to be completely honest with you,” he said, “I just thought it sounded really awesome.”
The closest the company will get to an actual AI is the amount of automation they’ve done.
The company has a small team of people who deal with “quite a lot of volume.”
Yet, they keep everything smooth and stable thanks to “excessive automation internally,” Brekken said.
There’s very little human intervention, he added. “It’s like a giant machine” running nearly everything.
AI advises HUMANS to do their own research to be confident in their financial journey.
ATTACHING: Meme for motivation
Good job! 🎈 pic.twitter.com/eRli2v5Iw1
— SideShift.ai – Direct to Wallet Trading (@sideshiftai) April 13, 2024
However, when talking to customer support, the team “makes it a bit confusing” for people to know if they’re talking to a human, a machine, or a machine pretending to be human.
“More likely, you might be talking to a human pretending to be a machine,” Brekken said.
And speaking of the team, the founder noted that SideShift.ai is currently hiring for a number of roles, especially engineers.
Meme Coins Are Stress-Testing Major Chains
Commenting on the ongoing meme coin craze, Brekken said that he himself was “really into” Dogecoin when it launched in 2013.
Looking at the craze now, “It was the exact same thing back when there was only Dogecoin, but obviously, this is on steroids.”
There are many more of these coins now, many more communities, and more people involved – even those outside the crypto space. It’s difficult to visit a café without overhearing a conversation about WIF or BONK, Brekken remarked.
But, generally speaking, meme coins are beneficial for the space, Brekken remarked. “I think it’s good in many ways that people are trading meme coins,” he said.
He argued that these coins create fun for friends and communities, that they are harmless, and also an excellent way for people to enter crypto.
Bitcoin’s $60,000-$70,000 price tag can be intimidating for newcomers. Once bought, there’s also a lot to lose.
But with meme coins, it’s a lot easier to afford and trade them.
Degens need something to gamble on, and the shiny new things are memecoins. 🤡
Catch all of the PvP action, hot takes and more in this week's spicy newsletter!
Read it now: https://t.co/dmEDPBMuyr pic.twitter.com/289DdZ9819
— Shitcoin.com (@ShitcoinDotCom) March 23, 2024
And this space is growing as well. Now, users have more advanced tools at their disposal trading BONK than they do trading Apple shares, Brekken argued.
Additionally, trading meme coins is potentially becoming a competitor to another giant: sports betting.
“It’s quality fun with your friends,” Brekken said.
Lastly, but importantly, all this activity is stress-testing the technology, specifically the chains these tokens reside and move on.
Solana and Ethereum, in particular, are being stress-tested. Different chains are competing. They must work hard not to fall behind and lose users.
“I will bet you, [the developers] are all working day and night on all these platforms and chains […] to just keep this running and to try to find ways to deal with this record-level high demand for throughput and capacity,” Brekken said.
Multiple Parallel Markets At Work
Another exciting point Brekken made is that we currently seem to be witnessing multiple markets happening simultaneously.
Previously, we’d see one sector at a time significantly rising above others, each with its own cycle.
For example, in the last cycle, there was a decentralized finance (DeFi) summer that turned into a Solana summer. This gradually shifted into a “mania” centered around FTX, and so on.
Today, however, we’re seeing the spot Bitcoin exchange-traded funds (ETFs) taking off, the meme coin market continuation, and a new DeFi wave.
It also seems like these three have separate risks and somewhat separate users, Brekken opined.
Don't be a piggy in the fight between bulls and the bears.
Plan your trades wisely. Good job! 🎈 pic.twitter.com/WSm848Yp9V
— SideShift.ai – Direct to Wallet Trading (@sideshiftai) April 13, 2024
That said, he hopes that the meme coin cycle will continue to attract more newcomers to the space and encourage users within other cycles to explore other crypto-related markets.
The bull market has been “creeping up on us since the desperation we all felt” when Bitcoin was $20,000-$25,000.
Therefore, Brekken hopes the three different cycles will affect each other positively and prolong this bull run.
“If you’re still alive with a good-looking meme coin portfolio [by the end of summer], I think you are a genius,” he added.
Ethereum Dencun Upgrade and Path to Sharding
Lastly, Brekken briefly discussed certain developments in the space, including the Ethereum Dencun upgrade, which went live in March.
The upgrade aimed to significantly boost the Ethereum ecosystem, reduce Ethereum layer-2 blockchain transaction fees, and pave the way for sharding in the future, which will finally lower Ethereum’s high layer-1 fees.
What surprised Brekken about these Ethereum upgrades is that everybody connected to the Ethereum ecosystem, including other chains, was fully ready at the moment the update went live.
This is a positive development.
There is no longer a need to develop separate software for several years to support an upgrade. These are instantaneous now.
Another notable thing is the ongoing talk about sharding.
Deep dive on Ethereum's sharding roadmap from @Delphi_Digital. It's very good! https://t.co/oiTEqLFXGx
— vitalik.eth (@VitalikButerin) May 27, 2022
Sharding is a solution that optimizes the process of verifying transactions and smart contracts by splitting the blockchain network into partitions called shards.
This way, every node does not need to review the entire transaction history on the network.
Instead, specific nodes are assigned to specific shards, optimizing the process of nodes verifying transactions.
This, said Brekken, has the potential to send ETH to $5,000.
Therefore, the upgrades we’re seeing now are the developers gradually building a path towards sharding. Brekken said it’s a large project that will likely take a few years to complete.
__________
About Andreas BrekkenAndreas Brekken is the founder of SideShift.ai, a platform offering direct-to-wallet trading. To date, the exchange has processed over $1.25 billion in volume.
Brekken first discovered Bitcoin in 2011 and has a deep technical understanding of the cryptocurrency space.
In addition to being a long-term crypto supporter, he has substantial hands-on industry experience.
In 2013, he founded Justcoin.com, a Norway-based cryptocurrency exchange (later acquired by ANX INTL), and then worked as a software engineer at Kraken in 2015 and 2016.
Brekken is also the founder of Shitcoin.com, a wide-reaching crypto content platform.
The EEA Mainnet Working Group, an initiative backed by both the Enterprise Ethereum Alliance and the Ethereum Foundation to bring enterprises to the Ethereum mainnet, has formed a new task force that includes decentralized oracle project Chainlink as a key member.
That task force, dubbed EMINENT for “Ethereum Mainnet Integration for Enterprises,” will work to create reliable standards for businesses that want to use “corporate systems of record” like the Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP) systems in conjunction with Ethereum.
We're excited to work w/ @UnibrightIO, @AnyblockTools, & other EEA members on EMINENT (Ethereum Mainnet Integration for Enterprises). Its focus is on the standards & specs for integrating Ethereum Mainnet with ERP, CRM, & other corporate systems of record. https://t.co/BO802xNWGE
— Chainlink (@chainlink) January 27, 2020
Chainlink has been welcomed to the EMINENT initiative as its resident oracle authority.
Chainlink will also be joined on the task force by analytics firm Anyblock Analytics and Unibright, a company that helps enterprises integrate with blockchain technology.
What Comes Next? The task force will spend up to two years on their work, first in researching the recording dynamics at hand and thereafter in establishing guidelines and creating open-source reference implementations that businesses can follow.
As the EEA Mainnet Working Group explained further in its announcement of the task force this week:
“Initially, the task schedule will focus on defining work packages, then expand into building best practice solutions within proof-of-concept implementations, and finally provide open-source available documentation and specification basis (like ERC standards) for further development by the public Ethereum community and EEA members.”
Chainlink a Natural Fit to Help John Wolpert, the vice-chair of the EEA Mainnet Working Group, noted on the news that Chainlink was uniquely suited to productively contribute to the new task force:
“To make this work, we need experts laying down the standards for common-sense integration with enterprise systems of record. Unibright has the experience connecting blockchain to ERP. Chainlink has the experience keeping different databases, run by different companies, in a state of consistency. That’s a promising combination.”
Sergey Nazarov, the co-founder and de facto face of Chainlink, commented that he and his team are looking forward to helping the EMINENT initiative tackle the challenges in front of it head on, saying:
“We’re excited to work closely with the EMINENT Task Force to continually push the boundaries of what’s possible in public blockchain environments. Developing mainnet integration standards that take into account the specific challenges of enterprises is key to the EMINENT Task Force being able to leverage the unique advantages of public blockchains, while seamlessly and securely incorporating their current systems of record and key data sources.”
Chainlink Presses Ahead on Integrations No stranger to locking down integrations with other projects, Chainlink’s backers have secured another three melds with their decentralized oracle middleware in just the last week alone.
The first of those newly announced integrations was with BetProtocol, a decentralized gaming platform. Among other things, the protocol will look to leverage Chainlink so users can settle bets with off-chain data.
The second fresh link up comes courtesy of ICON, the South Korean blockchain project associated with the ICX cryptocurrency. “The initial application is securing the ICX/USD price feed so ICON Dapps can build financial products based on the USD equivalent of ICX,” the Chainlink team explained.
Thirdly, Chainlink also just revealed that its tech would be used by the Alkemi open finance prime brokerage platform to “to enforce price thresholds (for unlocking assets pre-expiry date) set by on-chain liquidity providers.”
In other words, it’s been a typical week for the Chainlink community, which is now used to quickly racking up such integrations after locking down dozens last year.
If the project can keep up a similarly rapid and productive pace in 2020, then it’s likely to remain the most interesting oracle effort to watch in the months ahead.
William M. Peaster
William M. Peaster is a professional writer and editor who specializes in the Ethereum, Dai, and Bitcoin beats in the cryptoeconomy. He's appeared in Blockonomi, Binance Academy, Bitsonline, and more. He enjoys tracking smart contracts, DAOs, dApps, and the Lightning Network. He's learning Solidity, too! Contact him on Telegram at @wmpeaster
Unibright is a project that has been generating quite a bit of interest recently. So much so that the UBT token has been rallying in price as traders have been snapping it up.
However, behind the impressive performance is a really interesting project that is looking to take enterprise blockchain adoption to the next level. Unibright is also looking to be the connecting fiber between the open source Ethereum network and companies.
So, is it really worth considering?
In this Unibright review, I will attempt to answer that. I will also take a look at the long term use cases and adoption potential of the UBT Token.
What is Unibright?Unibright is a fairly new blockchain project that's self-described as the “unified framework for blockchain based business integration.” Whew! That's quite a mouthful, but what exactly does it mean, and how can we use Unibright?
In essence Unibright is being created to give companies and other organizations the ability to utilize blockchain technology without the extensive costs, huge hassle, and the need for a large corps of developers.
Unibright Abstract. Image via Whitepaper
Instead businesses are able to use the visual workflow created by Unibright to create and launch smart contracts on an appropriate blockchain. And it can all be done without any coding skills whatsoever. There's no blockchain skills required, no smart contract development knowledge, not even traditional software development knowledge is needed.
Unibright has even gone to the trouble of including a number of business use cases right within the system. These include cases such as invoicing, shipping process monitoring, asset life cycles, multi-party approvals, and many others.
Users can easily select their use case and then create a custom workflow. This can then be deployed in a way to bridge the information between the new blockchain and existing systems, such as ERP.
Unibright ObjectivesOne of the key roadblocks to the adoption of blockchain technology by enterprises has been the concerns around the usability of existing solutions, and the huge knowledge gap that exists in regards to deploying, developing, and designing blockchain solutions.
Add to this the scarcity of talented blockchain developers and the cost of hiring such talented developers. It's understandable that businesses have been slow to adopt blockchain solutions, even though many business leaders are able to see the potential for blockchain to dramatically improve their operations.
The blockchain solutions being created often have clear advantages for businesses, but traditional businesses have been slow to adopt these new and novel solutions. The uncertainties regarding costs, development, and effectiveness in blockchain integration has kept many on the sidelines.
Unibright Overview. Image via Unibright
And that's why Unibright was developed and where it comes into play.
The Unibright project is attempting to position itself as a unified framework that simplifies all the aspects of blochcain integration for enterprises through its algorithmic design.
Through this framework businesses can take advantage of interoperability, not only between blockchains, but also with legacy systems. Unibright provides a full stack of tools that function to connect information between all systems, increasing the productivity and efficiency of an organization.
One of the beauties of the Unibright platform is it's blockchain agnostic. It tries to use visual cues and more abstract designs to describe integration scenarios for businesses and to make them as cost-efficient and easy to implement as possible. The platform has also attempted to remain flexible in regard to technological advancements in blockchain.
Unibright TechnologyIn the simplest terms the Unibright platform was created as a simple framework that individual businesses can mold to their own specific needs.
It will allow managers to use blockchain solutions in their everyday operations with little risk, while saving costs and increasing productivity and efficiency. Unibright is designed to finally close the gap between blockchain technology and traditional business applications.
The Unibright framework currently contains four distinct tools:
The UB Workflow DesignerThis tool allows anyone, even those with no blockchain experience or knowledge, to define workflows visually, and without any reference to a specific blockchain protocol. The UB Workflow Designer allows its users to choose an existing template and them customize it to their workflow needs.
The Unibright Visual Workflow Designer
This visual designer can even define integrations with other blockchains and IT systems, as well as setting system boundaries. Once the workflow has been created the system automatically generates the needed smart contracts with the necessary business logic.
The UB Contract InterfaceThis is the central part of Unibright's ecosystem. With the UB Contract Interface users are able to make changes to previously designed workflows, transforming them into smart contracts specific to a blockchain. They can then publish the smart contracts, maintain them, or automatically generate templated connection adapters for existing systems.
The Unibright Contract Interface
The templates that are made available to users of the Unibright ecosystem have been designed around predefined business workflows, and are presented at a high level of abstraction. The development team plans on maintaining the templates, enhancing them as needed, and creating new templates to serve new use cases and industries.
The UB ExplorerThe UB Explorer provides a simple interface where users can monitor all ongoing processes. Data is collected from the smart contracts, as well as from any systems that have been connected to the chosen template.
The Unibright Explorer
The Explorer provides Smart Queries that present useful information and are automatically generated based on the specific workflows. This way both on-chain and off-chain data can all be presented together in an easy to read and extremely useful dashboard.
The UB ConnectorThis is how Unibright allows off-chain systems to access and use Unibright smart contracts. It also enables the creation of cross-chain workflows, and cross-system workflows.
The Unibright Connector
It does this through the Smart Adapter, which takes all the technical details needed to connect a blockchain or ERP system and transforms them to allow the connection to happen. Smart Adapters make the Unibright Connector dynamic, and enable a massive variety of integration possibilities.
Unibright TeamUnibright and its team are based in Germany and led by founder and CEO Marten Jung. Marten has also been the CEO of the parent company SPO Consulting for the past two years. SPO Consulting has been in business for over 20 years, with a focus on business integration.
The co-founder and CTO of Unibright is Stefan Schmidt. He also serves as the Head of Software Architecture. The Lead Frontend Engineer for the project is Ingo Sterzinger, who brings over a decade of software development experience to Unibright.
Some Unibright Team Members: Marten Jung, Stefan Schmidt, & Ingo Sterzinger
In addition to these three there are an additional four core positions, with the following titles mentioned: Chief Communications Officer, CMO and Head of Marketing, Lead Engineer Testing, and Lead Engineer Data Modeling.
These positions are all filled with members who have many years of experience in database management, engineering, and computer science. The only potential downside is that none of the team members have any prior blockchain experience. However they all seem accomplished enough to acquire the skills they need to succeed rapidly.
Advisors & PartnersBesides having a very skilled set of team members, Unibright also has a very skilled and knowledgable team of advisors.
This group brings a wealth of blockchain experience and knowledge to the project and includes Youtuber and founder of DataDash Nicolas Merten. In addition there are a number of former PwC auditors, blockchain developers from Ambisafe and Iconiqlab, PhDs, and venture capitalists.
Unibright has also been aggressive in developing partnerships, including SAP, Microsoft, Iconiqlab, and Ambisafe among others. This puts the project in a good position to strengthen their market exposure and positioning.
Some of the Partners Unibright is working with
They’ve also gotten together with Deutsche Bahn to create a tokenized ecosystem for public transportation. And most recently they’ve entered into a strategic partnership with NEM. In addition, the parent company SPO Consulting has business relationships with companies such as Lufthansa, Unilever, and Samsung that can be leveraged in the coming years.
UBT TokenAccessing the Unibright framework requires UBT tokens. Users deposit whatever number of tokens required for their usage. To acquire tokens users must buy them on the open market. Unibright even offers to help if the users need assistance in purchasing through an exchange.
There were some concerns expressed by the Unibright community at this setup, as some felt that large enterprises couldn't be expected to go to an exchange to purchase tokens, but this hasn't been a problem to date and all users have been able to acquire whatever tokens they need from IDEX.
This 30 days of usage is a crucial part of the UBT token model. It was setup so that a users initial deposit must be large enough to cover a minimum of 30 days usage. This allows them to later make use of a “Rebuy contract.”
This is key because it allows customers to repurchase the tokens they used over the 30 day period from Unibright to continue using their blockchain integration. The Rebuy contract determines the rebuy price, with the standard set at $0.14 per UBT.
Features of the Unibright token
This price may seem low to some, but in truth this is how enterprise solutions are often costed. In practice the initial purchase and deposit is likely to be the most expensive part of the process. This makes complete sense since the initial deposit is like the setup cost for the process. Currently the price of one UBT is above the $0.14 level, making the Rebuy contracts very useful from a business standpoint.
Once tokens are deposited to the platform, and this includes rebought tokens, they cannot be withdrawn again. When tokens are deposited and the Rebuy Contract is signed the tokens are locked in a smart contract which lasts for the duration of the contract.
The good news for investors is that every additional Unibright user removes more UBT tokens from the open market. This should help support UBT prices in the future as increased demand will lead to declining supply.
What happens when the contract ends?Once the contract ends the user needs to deposit more tokens which they've purchased on the open market. They sign a new contract and these tokens are then locked into the platform. This means new tokens must be purchased each time a Rebuy Contract expires.
What about the tokens from the expired contracts?These tokens go back to Unibright. Initially the plan was to sell these tokens on the open market to create additional revenue for the project. That plan has been set aside thankfully, and the team has decided not to sell the tokens they receive, ever.
Instead the plan is to use these tokens to onboard non-profit organizations to the platform. These tokens are not being gifted, but will be deposited into the framework to help the charities to benefit from the blockchain integrations that have been made available.
In essence this means that any token deposited into the framework will be forever removed from the open market, and thus the circulating supply of UBT tokens will be forever declining.
UBT Trading & StorageAfter the project held their ICO in May 2018, raising $13.54 million by selling roughly two-thirds of the UBT supply for $0.14 each investors were rewarded with an immediate pump to almost $0.19 each. That didn’t last long though, and by the end of May the price of UBT was slightly below the ICO price. The token continued to decline, nearly reaching $0.01 by October 2018.
Price bounced around slightly after that, rarely topping $0.02 and also not going below $0.01. By the end of 2019 the price of UBT was still stuck stubbornly below $0.02.
As the entire universe of altcoins began climbing in 2020, so too did UBT begin to rally. From just below $0.02 at the start of the year the token price has soared to an all-time high of $0.28922 as of February 18, 2020.
UBT Token Price Performance. Image via CMC
When it comes to exchange coverage, UBT does not appear to have that much support. Hotbit has over 60% of the trading volume which means that it is quite centralised. The liquidity also appears to be quite limited which means that you will experience slippage when trading large block orders.
Because UBT is an ERC-20 token you can use any wallet that’s suitable for storing ERC-20 tokens. Some suggestions would be the Ledger and Trezor hardware wallets, MyEtherWallet, MetaMask, Atomic, and many others.
Development Progress & Roadmap2019 was quite a busy year for the Unibright team. There were a number of technical advancements that they brought to the fore as well as some partnerships. These include the following:
Q1: They brought the UniBright framework to product readiness (earlier than initially). They also joined the European Blockchain FoundationQ2: There was further collaberation with Universities and other academic institutions. On the product front, they released the C02 compensation project for "Carbonara".Q3: They integrated Facebook's Libra technology into the Unibright framework. There was also some work on the tokenization of securities.Q4: Perhaps the most meaningful announcement here was their official partnership with Digital and Anyblock Analytics.While Unibright does not have an updated roadmap on their website, they do have this blog post that was published in April of last year. As you can see, there are a number of goals they would like to achieve by the end of this year and by the end of 2024.
By the end of 2020, they would like to achieve the following:
On-boarding More clients: They also would like to lock 15-25% of UBT inside the platform.Development on Automatic Setup: This would allow clients to set up a Unibright Framework SaaS environment, for locking in tokens and enabling token renewal by smart contractThen, the singular goal that they would like to acheive by 2024 is enable mass adoption as they target to lock up 80% of the UBT inside the platform.
Final ThoughtsBy looking for ways to offer blockchain technology in a simple manner to businesses and enterprises Unibright is taking on one of the most critical areas to the adoption of blockchain technology.
Businesses need this new technology for its productivity enhancements, efficiency, and cost-savings potential, but are hesitant to adopt technology with a steep learning curve. With the Unibright solution there’s no need for a business to have any knowledge or expertise in blockchain, but they can still benefit from the technology.
While the team behind Unibright did not come from a blockchain background themselves, they still seem extremely capable, and that could actually give them an advantage in creating solutions that work for non-blockchain companies. Plus having a parent company with several decades of experience in a similar business must work in Unibright’s favor.
They stand out in their avoidance of hype, which is refreshing in the blockchain ecosystem. In place of the hype they have a clear approach to B2B marketing, which makes them more trustworthy. Their website does an excellent job outlining the business use cases for Unibright, and offers several scenarios where the platform would be used to increase the efficiency of a business.
Unibright To the Sky? Image via UniBright Blog
There are some downsides and risks to the project. Most notable of them is the certainty that competition in this space will grow in the coming years as the need for adding blockchain solutions to more businesses increases. Unibright combats this through the extensive experience of the parent company, and through the growing network of partnerships.
There is also the possibility that businesses will never come around to see the need to add blockchain technology. This possibility is truly beyond the control of Unibright, and they need to continue pushing forward under the assumption that businesses will eventually want to move to blockchain technology.
There has also been some criticism over the addition of a token to this platform, and questions over whether tokenization is needed. The plans for scaling the platform make it clear that a token is a necessary component of the platform.
Overall the team is already well positioned and doing well in growing their partnerships and usage of the platform. Once acceptance and use of blockchain technology increases at the business level Unibright will be in a great position to take advantage of that.
In Brief Three blockchain heavyweights unveiled “Baseline Protocol,” an enterprise solution for companies to communicate and transact privately on the Ethereum public blockchain. The protocol relies on Zero knowledge proofs, or ZKP, to keep information private. Ernst and Young, Microsoft and Ethereum venture studio ConsenSys—big guns in the blockchain consulting business— have joined together to create “Baseline Protocol,” a middleware solution for large companies to communicate and transact privately on the Ethereum public blockchain.
The project was unveiled in a press release earlier today. The protocol is “an open source initiative that combines advances in cryptography, messaging, and blockchain to deliver secure and private business processes at low cost via the public Ethereum Mainnet,” per the statement. “The protocol will enable confidential and complex collaboration between enterprises without leaving any sensitive data on-chain.
The enterprise problem with public blockchainsBlockchain has been tossed around in the past as a way to wrangle enterprise data. But one of the big problems with a public blockchain is that any data stored on the network is public. That’s a thorny issue for large corporations, who don’t want to put their private dealings on widely shared blockchain.
The open-source initiative aims to synchronize “internal systems of record,” including ERP data, CRM and other private business processes via the public Ethereum blockchain.
In essence, Baseline offers a set of tools — including zero-knowledge proofs — that allow business transactions, smart contracts and communications to remain private, so that business users can decide what they want to share and with whom.
Zero knowledge proofs, or ZKP, is a complicated form of cryptography that allows two parties to verify things without sharing or revealing underlying data. And it is really the secret sauce for how all of this works. Baseline uses Ernst & Young’s Nightfall ZKP for Ethereum. It also leverages Whisper for secure p2p messaging between partners.
The Github for the protocol says that it’s meant to enable standard ERC-20 and ERC-721 tokens to be transacted on the Ethereum blockchain with complete privacy. It also states the protocol is “experimental solution and still being actively developed,” which would seem to indicate all this isn’t quite ready for primetime yet.
Paul Brody, principal and global blockchain leader at Ernst & Young, told Decrypt that he would not call the technology experimental. Though it’s new, it’s actively being developed and is actually “quite mature.”
“We expect to unveil products for enterprise usage based on this technology shortly,” he said, adding that he expected to see new Baseline-related products unveiled as soon as next month.
How Baseline Protocol works“Companies use all kinds of sophisticated internal systems to transact internally, but when they communicate with each other, they mostly use email and spreadsheets and EDI [electronic data interchange], which is basically text messaging,” Brody said.
In the case of the Baseline Protocol, Brody said there are two things that go on the blockchain. One is a “notarization”—basically a hash of the document and a timestamp, used to authenticate the document. (Note that you don’t put the actual document on the blockchain.)
The second thing is tokens, which can be created, traded and managed on the blockchain.
The tokens are the key inputs and outputs of business processes. This is one of the main things that that Nightfall ZKP keeps private—the transfer of the actual tokens (assets) between the parties. As Brody explained, Baseline also keeps private via smart contracts, business logic, such as the number and price of items negotiated in a contract or purchase order..
“For complex stuff, we notarize and for stuff that we want to market for decentralized services, we are going to do our best to create a digital token instead,” he said. “Blockchains are much more comfortable and much better designed to support digital tokens.”
Enabling these communications, and the use of tokens on the blockchain, will allow parties to access other tools on the blockchain as well, such as loans via decentralized finance, he said. (MakerDao, incidentally one of the founding members of the project.)
Solving the enterprise problemAs an example, say a large company wants to buy something from a supplier. They send a purchase order for 1,000 widgets worth $1 million via the Ethereum mainnet. The supplier may need working capital. “I can use middleware to send the P.O., but on the blockchain, there are a whole set of decentralized financial services as well. In theory, the digital token that represents my purchase order is something my supplier could as security use to obtain working capital,” Brody said.
He pictures Baseline as a way to enable these complex transactions but under privacy, so other companies can’t see how much you’ve borrowed. He believes it will allow companies to use the blockchain for business transactions much the same way people use the internet.
In a bigger sense, the Ethereum blockchain is no longer used as a settlement layer for recording transactions, but a middle or integration layer that is always available, without downtimes, stays the same, and is accessible for all the partners on your network.
Consensys envisions the technology mitigating all of the “heavy lifting” traditionally involved with connecting different ERP and CRM systems with their internal databases while at the same time, maintaining the integrity of the data.
How Baseline Protocol beganIn mid 2019, Ernst & Young, ConsenSys and Microsoft started a supply-chain project codenamed “Radish34,” that uses public Ethereum to enable real-time volume discount calculation across a series of purchase orders. These efforts led to the creation of the Baseline Protocol.
A company called Unibright, which recently joined the effort, will play a “major role” in developing the protocol.
“Every time a business process changes or state of a business process changes in a private network, the public available Ethereum mainnet is used as middleware to synchronize the states and to build a common frame of reference,” Stefan Schmidt, Unibright’s founder and CTO, explained in a video.
The development for Baseline Protocol is funded by ConsenSys and Ernst & Young. (ConsenSys also funds Decrypt.) Other companies in the Protocol steering committee include AMD, ChainLink, Core Convergence, Duke University, Envision Blockchain, MakerDAO, Neocova, Splunk, Provide, and W3BCLOUD.
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Crypto markets have hit a new 2019 high; Bitcoin dominating, ETH, BNB and XMR moving, LEO enters top twenty. Market Wrap It has been another fruitful Friday in crypto land. Markets have hit a new high for the year and as usual it is Bitcoin driving them. A total market cap top of $300 billion was touched a few hours ago as BTC broke through resistance once again surging to a new 13 month high.
The move came a few hours ago during early Asian trading. This time it wasn’t a ‘Bart type spike’ but a gradual grind up through the resistance at $9,600 and on towards an intraday high of $9,800. Since then gains have mostly held as Bitcoin remained around $9,700 with plenty of talk about a further move to $10k today or over the weekend.
Ethereum also got a boost this time as a 4 percent climb lifted it to $280. In comparison however ETH is still way down, over 80 percent of ATH compared to BTC which is now close to 50 percent. There is no doubt that Ethereum will crack $300 and make bigger gains when altseason kicks in but at the moment the going is slow.
Altcoin Outlook The crypto top ten has not reacted with the usual fervor and aside from Binance Coin adding 6 percent nothing else has really moved much. There is a little green with Bitcoin Cash and EOS adding 2 percent each but others such as BSV are falling back. There has been no movement on XRP, LTC and XLM.
The top twenty is equally lethargic aside from Monero which is still climbing with a further 6 percent today to reach $108. The Bitfinex transparency initiative UNUS SED LEO has arrived on the scene as CMC has just registered a market cap of $1.8 billion jumping it straight into 14th place above Dash. LEO tokens were trading at $1.84 at the time of writing. The rest of the altcoins are up a percent or flat at the moment.
FOMO: Egretia Climbing Higher Today’s top performing crypto top one hundred altcoin is Egretia again as entertainments based token surges 24 percent. A listing in Singapore’s BiUP exchange may have driven some of the momentum for EGT as the team rejoices.
Breaking News: Egretia is currently ranked 77 as per CoinMarketCap!!! EGT has seen the highest gain, growing almost 30% over the past 24H! More info, welcome to join us on telegram : https://t.co/G8oBPqZT64
Nash Exchange is getting a 12 percent boost today and Vestchain has made ten, these are the only three cryptos in double digits. Waltonchain and Grin are at the other end of the list dumping 10 percent each.
Total market cap 24 hours. Coinmarketcap.com Total crypto market capitalization surged almost $15 billion to top out at a new 2019 high of $300 billion a few hours ago. A slight correction has dropped markets back to $297 billion at the moment but things are still bullish. Bitcoin is the only thing driving market gains at the moment as dominance increases to 58 percent in its push to five figures.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
Investors are rushing to stake Nash Exchange (NEX) tokens, in order to maximize returns from the exchange’s fee-split model.
The address for Nash’s staking smart contract has seen a sharp surge in its balance. More than 700,000 NEX has been added to the wallet since Monday, when Nash went live. That takes the total number of staked NEX tokens up to 2.8M, which is roughly 8% of the circulating supply.
NEX tokens staked in the NASH staking smart contract. Source: NEOSCAN. Creators describe Nash as a ‘distributed finance‘ platform. In addition to the usual trading facilities found in a DEX, users can also make payments in cryptocurrencies through NashPay.
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Nash’s matching engine was built on the NEO blockchain, but cross-chain integrations allow communications with other protocols. All five Nash founders participated in the ‘City of Zion’ decentralized developer community, and are reportedly still involved in developing NEO infrastructure.
But the project is “not dependent on the NEO network,” said Co-founder Fabio Canesin in April. The exchange has already incorporated scripting protocols for Bitcoin (BTC) and Ethereum (ETH).
Crypto Briefing first wrote about Nash when the project announced its ICO, to be held in early 2018. But the offering was delayed pending regulatory approval from Liechtenstein’s Financial Market Authority (FMA). Originally scheduled for Q1, the ICO was launched in September of 2018.
An MVP (Minimum Viable Product) for the exchange went live on Monday, allowing token holders to stake NEX tokens to receive a share of the trading fees. The staking rewards increase according to how long the tokens have been staked.
But the long-awaited launch failed to halt a considerable sell-off of NEX tokens, whose prices began to sink yesterday. After rising to $2.40 per token on Monday, they traded at approximately $1.70 at the time of writing.
Disclosure: This article was edited by Paddy Baker. For more information on how we create and review content, see our Editorial Policy.
Ethan Fast has spilled all in a recent interview with CryptoSlate. Fast shares how he got into the crypto space and what encouraged him to kick start the Nash platform. Ethan Fast, the CTO and co-founder of the Nash platform, has spilled all in a recent interview with CryptoSlate.
The self-custody DEX has been gaining some significant movement and attention over the past few months so it’s sure to be an interesting take.
In the interview, Fast shares how he got into the crypto space and what encouraged him to kick start the Nash platform. He also spoke on the challenges of building a good quality user experience and where he sees the blockchain space going over the next few years.
If you want to read the full interview click here, but we’re going to look through the highlights.
The interviewer asked Fast on why he decided to co-start Nash. He responded, saying:
“During the final years of my PhD I began working with a group of amazingly talented people who more or less bootstrapped the NEO blockchain open-source community. We all worked really well together and shared an excitement about the future of digital assets, so the idea of starting a company felt like a logical next step.”
He added:
“In terms of “why Nash?” specifically, the most compact form of our mission is “distributing finance for everyone” and that still does a good job of summing up why we are working on this company. Cryptocurrencies are unique among other assets in the level of control and empowerment they give the people who own them. We want to make these assets and their properties accessible to everyone. Another motto we have is “trust yourselves”, which perhaps gets even more quickly to the point: we want to give people the power to do that! We all love working with the tech, but these are the bigger things we also care about.”
The CTO went onto comment on some of Nash’s most notable achievements or milestones.
“It’s always possible to break things down in different ways, but I’d say our first milestone was the public sale of our Nash Exchange security token (NEX) in 2018. This was an extremely big deal for us and, really, the whole ecosystem, as no one had ever publicly sold and issued a token that also had legal standing as a European security. Getting this done took more than a year of communication and back-and-forth with regulators at the FMA in Lichtenstein. The reason we went through so much pain was to provide investors with legal protections and explicitly pay dividends from the services we are building, which is only possible with a proper security. In the end, more than 15,000 people invested and we raised around twenty million in the public sale.”
He continued:
“Our second major milestone was the release of our exchange in early September of this year. We are the first exchange to demonstrate non-custodial, cross-chain trading of assets and tokens that live on different blockchains (for example, Ethereum and NEO) with performance on par with centralized exchanges.”
For more news on this and other crypto updates, keep it with CryptoDaily!
Funstrat co-founder Tom Lee says Ethereum could be the crypto market’s near-term leader, targeting a move to $12,000 by January on the back of Wall Street’s tokenization push and rising growth expectations for smart-contract platforms. In an interview released Nov. 10 with Tom Nash, Lee emphasized that while Bitcoin remains under-owned, “there’s a bigger move in Ethereum” over the next several weeks as capital reallocates toward the rails that power stablecoins and tokenized assets.
Why Ethereum Is Poised To Rally Soon Lee anchored his call to a blend of technical and fundamental drivers. Citing Funstrat’s head of technical strategy, he noted: “Mark Newton […] thinks we can be like $9,000 to $12,000 by January. I think that’s about right. I think Ethereum […] more than doubles between now and year end or between now and January.” In parallel, he said Bitcoin could reach the “high $100,000s, maybe even $200,000 by the end of the year,” while reiterating that Ethereum likely has the bigger near-term upside.
The crux of the Ethereum thesis, as Lee laid it out, is that the demand side of crypto is shifting toward applications that depend on smart contracts—precisely the domain where Ethereum is most entrenched.
“Even Cathie Wood wrote about it. She thinks stablecoins have been cannibalizing demand for Bitcoin and gold and tokenized gold is cannibalizing demand for Bitcoin. But stablecoins and tokenized gold run on smart contract blockchains like Ethereum,” he said. He added that “Wall Street is building and Larry Fink wants to tokenize everything on the […] blockchain. That means Ethereum is where people are starting to raise their growth expectations.”
Lee argued that this change in growth expectations matters as much as, if not more than, headline monetary policy over short windows. While acknowledging that the Federal Reserve remains a critical backdrop, he framed potential December easing as a catalyst for risk assets broadly—financials, small caps, and tech—and, by correlation, crypto. “If they cut in December, they’re confirming they’re on an easing cycle,” he said, calling that “really bullish” for equities most tightly linked to growth and liquidity. In Lee’s framework, those same flows support crypto assets—and Ethereum in particular—into year-end positioning.
The fund manager also located the crypto setup within a larger “super-cycle” he’s been mapping for years. He contends that markets are still in the early innings of an AI-driven capex boom and a demographic regime that keeps demand for productive technology elevated. That backdrop, he said, has repeatedly wrong-footed bears who anchored on yield-curve inversions and 1970s inflation analogs.
“People have a hard time understanding and grasping super cycles […] we look for story arcs that last 10 to 15 years,” he said, arguing the last three years showcased “mass misconceptions” about recession and persistent inflation that never reconciled with reported earnings.
The Macro Backdrop Pressed on risks to the call, Lee downplayed the idea that inflation is about to re-accelerate and argued that oil would need to approach levels near $200 to deliver a true growth shock to US households. “The most overrated risk is that inflation’s coming back,” he said, pointing to cooling housing and labor metrics and stating that recent claims about re-heating core services inflation were “dead wrong” when checked against the PCE series.
On policy path-dependence, he suggested that even a December hold by Chair Powell would likely accelerate political pressure for a leadership change, muting the medium-term impact on risk assets.
Timing-wise, Lee sees positioning as the near-term accelerant. He argued that institutions remain behind their benchmarks after repeatedly fading rallies through 2023–2025 and that the final weeks of the year often force a chase into outperforming segments. “There is incredible demand for equities because people are really off-sides […] 80% are trailing their benchmark this year […] they’re going to be buying stocks,” he said, adding that the AI trade “is going to come back strong” and that crypto tends to correlate with that move.
For Ethereum specifically, Lee’s case reduces to a simple through-line: the pipes getting built are where the next leg of growth accrues. Stablecoins, tokenized gold, and Wall Street’s broader tokenization agenda are traffic that runs on programmable blockchains; the market, in his view, is only beginning to price that through. “If you’re raising your growth expectations, then your discount to the future is going up,” Lee said, explaining why he believes ETH can “have a huge move into year end” and reach the $9,000–$12,000 range by January.
At press time, ETH traded at $3,447.
ETH bulls need to defend the 0.618 Fib, 1-week chart | Source: ETHUSDT on TradingView.com Featured image created with DALL.E, chart from TradingView.com
Bitcoin DeFi app Sovryn is expanding to the Ethereum blockchain with the help of hybrid layer-2 network developer Build on Bitcoin, the two companies announced on Thursday.
Sovryn is a decentralized platform launched at the end of 2020 that offers lending, borrowing, and margin trading through smart contracts in the Bitcoin ecosystem. Built as a DAO on the Bitcoin sidechain Rootstock (RSK) that allows for the creation of smart contracts, Sovryn has been working to enhance Bitcoin with advanced DeFi capabilities.
The first project that Sovyrn will launch on Build on Bitcoin is a decentralized exchange (DEX) called Dex 2.0. The group claims this project will come with lower gas fees and faster transactions than competitors like Uniswap, and “unparalleled capital efficiency.”
“We've known Sovryn for a long time, and they've definitely been spearheading a lot of the early DeFi work in the Bitcoin space,” Build on Bitcoin co-founder Alexei Zamyatin told Decrypt. “Egan was the first person I called up when we started working on [Build on Bitcoin], trying to get him excited about expanding the Sovryn ecosystem and also trying to learn about the struggles they had.”
A layer-2 protocol refers to technology designed to mitigate congestion on a blockchain by creating a secondary chain that works in conjunction with the main network. For example, the Lightning Network is a layer-2 micropayments protocol for Bitcoin. Other examples of layer-2s include Arbitrum and Optimism on Ethereum.
"With Build on Bitcoin, you can use 350 [Ethereum Virtual Machine] wallets," Zamyatin said. "For the layman, that means you can pick almost any wallet; it doesn't necessarily need to be Bitcoin only or deal with UTXOs. It makes the whole thing much more user-friendly."
In January, Sovyrn launched BitcoinOS, which uses what the company called “sovryn rollups” to create a foundational layer for decentralized apps (dapps) on Bitcoin.
“By joining forces with BOB, we are not only expanding Sovryn's reach but also creating a DeFi ecosystem that is accessible to millions of Bitcoin users worldwide,” Sovryn co-founder Egan Yago said in a statement.
On Sovryn’s Dex 2.0, Zamyatin explained, users can select different networks via the user interface, such as the BOB Ethereum layer-2 protocol. He noted that the selection process is similar to choosing between Ethereum, Optimism, and Arbitrum on Uniswap.
When asked why developers are focused on bringing DeFi to Bitcoin, Zamyatin said it was because of Bitcoin's reliability.
"Bitcoin is the backbone of the entire Web3 ecosystem. If Bitcoin falls, everything else falls, if everything else breaks Bitcoin is still there," he said. "I think that is one of the main properties of Bitcoin—it's stable and robust. Bitcoin is predictable."
With renewed interest in the number-one blockchain by market capitalization stemming from projects like Ordinals and the approval of Bitcoin ETFs, Zamyatin is optimistic about the future of Bitcoin development.
“Bitcoin had its harsh times when nobody wanted to really engage with it,” Zamyatin said. “We both had a feeling that it was going to have a renaissance, and luckily, we were right.”
Edited by Ryan Ozawa and Andrew Hayward
Editor's note: This story was updated after publication to clarify descriptions of Sovryn and Build on Bitcoin.
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Market maker giant Jane Street is again drawing intense attention in crypto markets, with experts claiming the firm’s “next target” may now be Ethereum (ETH).
The speculation comes after reports that Jane Street made several major adjustments to its positions during the week, following months of scrutiny tied to alleged trading manipulation connected to Bitcoin (BTC).
From Bitcoin Retreat To Ethereum Expansion Jane Street, one of Wall Street’s most active proprietary trading firms, reportedly reduced multiple Bitcoin-linked holdings in the first quarter (Q1) of the year, while meaningfully increasing its exposure to assets tied to Ethereum.
Jane Street’s position in BlackRock’s iShares Bitcoin Trust (IBIT) fell by 71% quarter-over-quarter to about 5.9 million shares, with a reported value near $225 million.
The firm also cut its stake in Fidelity’s Wise Origin Bitcoin Fund (FBTC), where holdings fell approximately 60% to around 2 million shares, valued at nearly $115 million at quarter-end.
The reduction also extended to Strategy (previously MicroStrategy). Jane Street’s Strategy holdings fell from about 968,000 shares in Q4 2025 to roughly 210,000 shares by the end of Q1. The reported value declined from close to $146 million to around $27 million.
But while the firm was dialing back Bitcoin exposure, it was simultaneously building its Ethereum footprint. Jane Street expanded its holdings in Ethereum ETFs, with positions in BlackRock’s iShares Ethereum Trust nearly doubling during the quarter.
The firm also added substantially to Fidelity’s Ethereum fund. Combined additions across the two ETH products were estimated at approximately $82 million.
Smaller Derivatives, Bigger Impact? The move is now being framed by analysts as a potential continuation of the same pattern some observers associate with Jane Street’s earlier Bitcoin-linked controversies.
Analysts at Bull Theory suggested that the firm behind a “daily 10 AM Bitcoin dump,” the same firm that was reportedly sued for insider trading in the $40 billion LUNA collapse, and the same firm with $567 million frozen by Indian regulators could now be targeting Ethereum.
Their central argument is that ETH may be easier to move than BTC, primarily because of market structure and scale. Bull Theory pointed out that Bitcoin futures open interest stands at roughly $60 billion, while Ethereum’s is slightly more than half at about $34 billion.
The thesis is that a smaller derivatives market can make it possible to influence price with a smaller amount of capital. They also emphasized relative market size, noting that ETH’s market cap is $273 billion compared to BTC’s $1.6 trillion. Under their logic, the same amount of capital would create 6 times greater price impact in ETH.
The analysts also argued that the Ethereum ETF market is still relatively early. They claimed that Bitcoin ETFs hold roughly 6.67% of all circulating BTC supply, while Ethereum ETF penetration is lower, meaning there may not yet be the same institutional “demand floor” to absorb coordinated selling.
Their conclusion was pointed: they believe the rotation into Ethereum is not happening primarily because Jane Street is forecasting bullish fundamentals for ETH, but because Ethereum is “easier to move.”
The daily chart shows ETH’s attempt to reclaim the key $2,300 level as support. Source: ETHUSDT on TradingView.com At the time of writing, ETH was trading at around $2,292, with almost no change from Wednesday’s price. Meanwhile, other assets such as Bitcoin and XRP saw gains of around 2% and 4% respectively during the same period.
Featured image created with OpenArt, chart from TradingView.com
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
6 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
6 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
6 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
6 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
6 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
As hacking incidents continue to increase in the cryptocurrency market, the latest news comes from Ethereum (ETH).
According to blockchain security firm PeckShield, a cyberattack occurred on the Ethereum (ETH) network in which a large amount of Polkadot (DOT) was minted without authorization.
Hackers reportedly minted approximately 1 billion Polkadot (DOT) tokens without authorization on the Ethereum network and sold them on the market.
Analyses suggest that a security vulnerability on the Polkadot Bridge may be the cause.
Analysts note that the losses experienced in DOT are relatively small due to the limited and low liquidity of the token.
According to the data, DOT continues to trade at $1.18, down approximately 3.6%, while South Korean exchanges Upbit and Bithumb have suspended DOT deposits and withdrawals.
Polkadot has not yet made an official statement.
*This is not investment advice.
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13 April 2026 | 10:37 The Hyperbridge cross-chain gateway connecting Polkadot to Ethereum was exploited on April 13.
Key Takeaways
Hyperbridge exploit minted 1 billion DOT on Ethereum. Attacker minted tokens worth $1.1B at prior market rates, realized only 108.2 ETH. Bridged DOT collapsed from $1.22 to near zero within one hour of the dump. Native DOT on Polkadot relay chain unaffected – down ~4% in sympathy. What Happened The Hyperbridge cross-chain gateway, a bridge connecting Polkadot to Ethereum, was exploited on April 13, 2026. The attacker identified a vulnerability that allowed them to seize admin privileges over the DOT token contract on Ethereum, transfer control to a malicious address, and forge gateway messages to authorize minting. One billion DOT were created and immediately dumped into available liquidity pools.
The timing is the most damaging contextual detail. In March 2026, six weeks before this exploit, the Polkadot community implemented a hard supply cap of 2.1 billion DOT through governance. The decision was designed to give DOT, which recently got its first spot ETF on Nasdaq, monetary credibility through enforced scarcity.
BRIDGED POLKADOT JUST GOT EXPLOITED
An attacker exploited a third-party bridge to mint 1 Billion DOT tokens on Ethereum. They sold them straight into the liquidity pool, removing over $240K in ETH across multiple transactions.
Track the attacker on Arkham using the link below: pic.twitter.com/2glmVWsDjS
— Arkham (@arkham) April 13, 2026
According to Yahoo Finance, the exploit minted tokens equal to nearly 48% of that entire capped supply in a single transaction. The governance mechanism that was supposed to make DOT scarcer was bypassed entirely through a cross-chain contract that operated on different infrastructure.
The native Polkadot relay chain was not affected. The supply cap on the native chain remains intact. The exploit targeted only the bridged representation of DOT on Ethereum, but for holders of that bridged asset, the distinction is academic.
Current Status Security firms PeckShield and CertiK have flagged the exploit and are tracking the movement of the 108.2 ETH the attacker realized. Upbit suspended all DOT deposits and withdrawals immediately, the first exchange action, and a signal that the industry is treating the bridged asset as compromised regardless of what the Polkadot team says officially.
Efforts are underway to isolate the compromised Hyperbridge contract to prevent further unauthorized minting. Users are warned not to interact with bridged or wrapped DOT on Ethereum until a new secure contract is deployed. As of reporting, neither the Web3 Foundation nor the Hyperbridge team has issued a formal statement.
The Liquidity Number That Tells the Whole Story The exploit mechanics explain how it happened. The $237,000 figure explains what it actually meant for the market.
The attacker minted tokens with an apparent market value of $1.1 billion at prior rates and walked away with 108.2 ETH, approximately $237,000. The gap between those two numbers is not a quirk of the execution. It is the precise measure of the actual liquidity depth of the bridged DOT market on Ethereum. Available liquidity in the pools the attacker dumped into was approximately $237,000. The asset that was supposedly worth $1.1 billion could absorb that much selling before the price collapsed to near zero.
The bridged DOT on Ethereum did not have $1.1 billion worth of real market depth. It had $237,000. Everything above that figure was price discovery built on the assumption that the bridged asset was redeemable for native DOT. Once that assumption was broken, the apparent value evaporated instantly.
If the apparent value was never real liquidity, reimbursing holders means replacing something that was never fully backed, and the treasury cannot do it even if the community wanted to.
The Reimbursement Problem The community that just voted for monetary scarcity is now being asked to consider inflating supply by 48% to fix a bridge it did not build. That tension has no clean resolution, and it is the first thing any reimbursement proposal will have to confront.
The Polkadot Treasury currently holds approximately 44 million DOT. The exploit involved 1 billion DOT, more than 22 times the treasury balance. Full reimbursement through a standard treasury spend is mathematically impossible. Any meaningful compensation would require either minting new tokens, directly undermining the supply cap governance decision made six weeks ago, or some unprecedented protocol-level intervention the community has not previously used.
If a proposal is eventually submitted, it must pass through Polkadot’s on-chain governance system, OpenGov, under the Big Spender or Wish for Change tracks. These require a lead-in period of several days before voting begins, conviction voting where holders lock tokens to increase their influence, and an enactment delay before any funds move. The governance process is designed for deliberation. It is not designed for emergency response at this scale.
The most likely outcome is not full reimbursement. It is partial compensation directed at the most affected liquidity providers, funded through a combination of whatever treasury allocation the community will approve without triggering the inflation question, and a separate accountability process aimed at the Hyperbridge team, which built and maintained the contract that was exploited.
The Polkadot governance system did not create this vulnerability. The bridge did. That distinction will matter in how the community frames any response.
The supply cap survived the exploit. The bridge did not. And the treasury cannot cover the difference.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Author
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
At 17:35 UTC on Saturday, April 18, 2026, someone minted 116,500 rsETH on Ethereum mainnet that had no backing behind it. That’s roughly 18% of KelpDAO’s entire circulating supply, worth about $292 million at the time the forged LayerZero packet cleared. Within minutes it was sitting as collateral on Aave, borrowing WETH against itself. Within an hour it had produced the largest single DeFi extraction of 2026 so far.
This piece was written in the first evening after the drain. KelpDAO and LayerZero have both promised post-mortems; final numbers on bad debt, compensation, and any supply migration will shift over the coming days. Treat the specific figures below as the best on-chain and analyst estimates available as of April 18–19, 2026.
The restaking contracts didn’t fail. The EigenLayer delegations are still intact. Mainnet rsETH is still backed by the legitimate user deposits sitting in KelpDAO’s node delegators. The core product was fine. What broke was the bridge — a LayerZero OFT adapter running on a one-of-one validator stack, which let a single forged signature instruct the adapter’s mainnet escrow to release tokens that shouldn’t have moved. Everything downstream is composability fallout.
Here is what happened, what broke, and who actually pays.
What KelpDAO Is, and Why the Bridge Mattered KelpDAO is one of the larger liquid restaking token (LRT) protocols built on EigenLayer. Users deposit ETH or a whitelisted LST, the protocol delegates to a set of EigenLayer operators, and users receive rsETH: a token representing a claim on the restaked position plus accrued yield. By April, rsETH had crossed $1 billion in TVL and was integrated as collateral across most of the major lending markets and yield venues in DeFi.
rsETH lives natively on Ethereum, where the restaking contracts sit. But its utility depends on being everywhere: Arbitrum, Base, Mantle, Unichain, Linea, and roughly a dozen other L2s and sidechains. KelpDAO uses a LayerZero OFT (Omnichain Fungible Token) adapter to move rsETH across chains. The adapter is the bridge. When rsETH leaves Ethereum, it’s locked in an escrow contract on mainnet, and a matching amount is minted on the destination chain. When a cross-chain message comes back, the escrow releases.
That escrow release is what got spoofed.
The Attack: A Single Forged lzReceive Call The entire drain happened in one transaction:
The call landed on LayerZero’s EndpointV2 contract at 0x1a44076050125825900e736c501f859c50fE728c with a forged origin packet claiming to come from source Endpoint ID (EID) 30320. The endpoint passed the payload to KelpDAO’s rsETH OFT adapter at 0x85d456B2DfF1fd8245387C0BfB64Dfb700e98Ef3. The adapter, trusting the message, released 116,500 rsETH from escrow into attacker address 0x8B1b6c9A6DB1304000412dd21Ae6A70a82d60D3b. One Transfer, one OFTReceived, one PacketDelivered. Roughly $292 million.
The forgery worked because the adapter’s security stack was configured to accept the attestation of a single verifier. LayerZero’s OApp configuration model lets the application developer choose how many “DVNs” (Decentralized Verifier Networks) must sign off on an incoming message before it’s delivered, plus any optional verifiers. For the rsETH OFT, both sender-side and receiver-side configs read the same way:
requiredDVNs: [LayerZero Labs] requiredDVNCount: 1 optionalDVNs: [] optionalDVNCount: 0 The sender-side DVN contract (0x282b3386571f7f794450d5789911a9804fa346b4) and the receiver-side DVN (0x589dedbd617e0cbcb916a9223f4d1300c294236b) both ran a one-of-one validator stack operated by LayerZero Labs. One forged signature was enough to make any cross-chain message look real. An entirely legitimate rsETH transaction had settled through the exact same DVN two days earlier, so this wasn’t a dormant testnet artifact; it was the live production setup.
On-chain analyst @senamakel was the first to post the OApp config publicly, roughly three hours after the drain. A follow-up reply from researcher @BranchM in the same thread clarified something important: the compromise wasn’t Unichain-specific. The DVN contract and its signing keys sit on Ethereum, so the attacker could have spoofed any source chain the adapter trusted. Changing the source EID from Unichain to Arbitrum would have produced the same outcome. The DVN itself was the single point of failure; the source chain was cosmetic.
LayerZero’s protocol wasn’t broken. The configuration KelpDAO (and whoever advised them) deployed was. A multi-DVN stack, typically two-of-three or three-of-five in production deployments handling significant value, would have required the attacker to compromise multiple independent verifier networks simultaneously. They only had to compromise one.
The Cashout: Unbacked Collateral Meets a Ready Lending Market The attacker didn’t try to sell 116,500 rsETH into DEX liquidity. That would have crashed the price inside the first block and capped the extraction at whatever the curves could absorb. Instead, they did the thing every post-2024 exploit playbook describes: they used the tokens as collateral.
According to on-chain accounting compiled by Chaos Labs and cross-checked against the adapter events:
On Aave V3/V4 Ethereum, the attacker supplied rsETH and borrowed 52,834 WETH. On Aave V3/V4 Arbitrum, they bridged a portion of the stolen supply and borrowed 29,782 WETH plus 821 wstETH. Smaller positions were opened on Compound V3 and Euler before those markets were frozen, adding an undisclosed additional slice of WETH/ETH borrows on top of the Aave numbers. Total extracted value sits in the $200M–$236M range depending on exact execution prices and the wstETH mark. That’s the money that actually left the attacker’s address as borrowed liquidity. A portion of the borrowed funds was then routed through Tornado Cash (ZachXBT flagged the first mixer-bound hops within twenty minutes of the drain), while the rest sits in wallets on-chain sleuths are actively tracking.
KelpDAO’s operations multisig paused the rsETH contracts on Ethereum and every L2 where the adapter was deployed within 46 minutes of the initial mint. That pause stopped any follow-up forgery and prevented the attacker from minting a second tranche. It didn’t, and couldn’t, reverse the positions already opened on third-party lenders.
The Blast Radius: Who Actually Got Hit The exploit was tightly contained at the smart-contract layer. Core EigenLayer pools, rsETH’s underlying backing, and LayerZero’s non-Kelp traffic were untouched. But rsETH had been so thoroughly composed into DeFi that the forced pause rippled outward immediately.
Aave took the brunt. rsETH was an accepted collateral asset across V3 and V4 instances on both Ethereum and Arbitrum. Within hours, Aave’s risk team froze every rsETH market and pushed a public message urging WETH suppliers to pull their liquidity while the situation was being scoped. Marc Zeller and Chaos Labs both confirmed the exploit itself didn’t touch any Aave contract. The risk is purely that the collateral backing the attacker’s ~$200M in borrows is now known to be worthless. The AAVE governance token traded off roughly 10% in the hours after the news broke, reflecting market uncertainty about how much of the deficit lands on token holders versus Umbrella stakers.
SparkLend, Fluid, and Upshift froze or paused rsETH positions on the same timeline. Compound V3 and Euler paused new rsETH borrows after the first attacker positions were opened.
Yield venues and structured products cut exposure the moment the news hit X:
Ethena paused rsETH usage in its vaults. Yearn froze any vault with rsETH allocations. Pendle paused its rsETH PT/YT markets to stop mispriced trading during the chaos. Beefy froze rsETH-denominated strategies. Lombard Finance preemptively paused unrelated LayerZero LBTC routes “out of caution,” which tells you something about the current level of trust in OFT configurations industry-wide. The knock-on damage runs deepest on the roughly 20 L2s and sidechains where rsETH was bridged. Because the minted supply on Ethereum is now partially unbacked, every wrapped derivative downstream is structurally impaired. Holders of rsETH on Arbitrum, Base, Mantle, Linea, and the other bridged chains are sitting on tokens that can no longer be confidently redeemed against a 1:1 claim on Ethereum escrow. Withdrawals are paused, liquidity has evacuated DEX pools, and any lending market on those chains that accepted wrapped rsETH as collateral is running into the same bad-debt math Aave is running into on mainnet, just at smaller scale.
Untouched: stETH, wstETH, rETH, cbETH, and every other major LST/LRT outside of KelpDAO. There is no systemic restaking contagion here. The failure is specific to one adapter, one DVN, one trust model.
The $177M Bad Debt vs a $56M Umbrella The Aave bad debt number being quoted by every serious on-chain analyst is roughly $177 million, sitting in the WETH reserves across V3 and V4 on Ethereum and Arbitrum, plus a small wstETH slice on Arbitrum. The range from different sources runs $177M–$196M depending on exactly how partial liquidations and wstETH marks are accounted for. $177M is the median figure from Chaos Labs’ real-time reporting, and the one most post-mortems will anchor to.
That deficit is what Aave’s Umbrella module was built for. The awkward part is that Umbrella currently only runs on Ethereum mainnet.
Umbrella is the on-chain risk backstop that replaced the old Safety Module in mid-2025. The old Safety Module required a governance vote to slash stakers, which meant that in practice it had never actually been slashed. It was a theoretical insurance fund. Umbrella is different by design:
Per-asset, per-network isolation. Stakers deposit into a specific asset vault on a specific network. The WETH vault on Ethereum covers WETH deficits on Aave Ethereum and nothing else. USDC and GHO stakers are untouched. Ethereum-only, for now. Umbrella launched on mainnet in mid-2025 and has not yet been deployed to Arbitrum, Base, or any other network. Bad debt recorded on a non-Ethereum Aave instance falls back to legacy cover-of-last-resort: the DAO Collector first, then AAVE token issuance via governance, then pro-rata socialization onto suppliers if those prove insufficient. Automated slashing. UmbrellaCore monitors realized bad debt in the corresponding Aave reserve. When the recorded deficit crosses a configurable threshold (the “deficit offset,” currently 100,000 units of the base asset, absorbed by the DAO Collector first), UmbrellaCore permissionlessly calls slash() on the relevant StakeToken contract. No governance vote, no delay. Pro-rata dilution. Slashing burns a proportional share of the vault’s underlying assets and sends them to the Collector, which repays the pool. Every staker’s share value drops by the same percentage. 20-day cooldown. You can’t exit instantly. Once you request withdrawal, you remain fully exposed (and fully rewarded) for 20 days. This is the structural reason bank-run dynamics can’t short-circuit the backstop. Minimum assets floor. The contract refuses to drain the vault below a minimum level, and slashing is capped at the actual recorded deficit. The Ethereum WETH Umbrella vault was carrying roughly $56M in TVL heading into the weekend. The attacker’s borrows split roughly 52,834 WETH on Ethereum versus 29,782 WETH and 821 wstETH on Arbitrum, which maps the $177M deficit to something like ~$113M on Ethereum WETH, ~$64M on Arbitrum WETH, and a few million in Arbitrum wstETH. The Ethereum slice alone is roughly twice the size of the Umbrella vault standing against it.
The slash math is therefore brutal and simple. Umbrella gets fully drained — the entire $56M vault slashed down to its minimum-assets floor — and still leaves roughly $55M of residual WETH bad debt on Ethereum uncovered. The Arbitrum deficit, roughly $67M combined across WETH and wstETH, has no Umbrella backstop at all and flows directly to DAO-level mechanisms. Net shortfall against Aave’s existing Umbrella capacity lands somewhere around $120M even after the Ethereum vault is wiped to the floor.
The DAO’s $100K deficit offset is a rounding error at that scale. The Collector balance helps, but not enough. That leaves two real levers for the residual: governance-authorized AAVE issuance (minting tokens, selling them, and pushing the proceeds into the Collector — the classic MakerDAO-style dilution playbook), or direct haircuts on WETH suppliers on the affected instances. AAVE issuance is the politically easier path and the one governance chatter is converging on, but the dilution burden shrinks meaningfully only if KelpDAO socializes a portion of the loss on its side, most likely by haircutting wrapped rsETH on bridged chains rather than touching the mainnet token.
The Hierarchy of Pain Strip away the dashboards and there’s a clean ranking of who actually absorbs the $292M.
Tier 1: Aave Umbrella WETH stakers on Ethereum. They signed up to be the first-loss backstop in exchange for extra yield on top of the aWETH supply rate. That trade-off is now live, and not partially — the Ethereum WETH deficit is roughly twice the size of the vault, so the entire $56M gets slashed down to its minimum-assets floor. Loss is immediate, pro-rata, automatic, and close to total. Umbrella stakers in other assets (USDC, GHO) are untouched because of per-asset isolation.
Tier 2: AAVE token holders. Once Umbrella is exhausted, the ~$120M combined residual (Ethereum WETH remainder plus the entire Arbitrum deficit, which has no Umbrella backstop) has to come from somewhere. Governance is already discussing AAVE issuance as the primary cover mechanism, which dilutes existing holders. The ~10% AAVE drop in the hours after the exploit is the market pricing in exactly this scenario.
Tier 3: rsETH holders on bridged chains. An 18% supply inflation at the Ethereum layer translates to structurally impaired wrapped rsETH everywhere else. The recovery plan analysts are modeling, which KelpDAO has not yet officially committed to, is a selective socialization that haircuts the bridged-chain float while leaving Ethereum mainnet rsETH as close to whole as possible. The math and the legal optics both favor pushing losses onto the smaller, more diffuse holder base rather than the mainnet holders sitting on the largest pools and the loudest megaphones. Rough modeling puts a haircut on bridged positions somewhere around the 15–20% range, with the exact number depending on whether KelpDAO chooses to top up partial compensation from treasury.
Tier 4: Leveraged rsETH loopers. The standard LRT trade through April was borrowing WETH against rsETH on Aave or Spark to loop into more rsETH, earning the spread between staking yield (~2.5% blended) and ETH borrow rates. With rsETH frozen and ETH borrow rates spiking into the 8–9% range on the utilization crunch, these positions are burning equity by the hour and can’t be unwound without manual intervention. Some will end up undercollateralized during the unwind and generate secondary bad debt on whichever lender they sit on.
Tier 5: Aave WETH suppliers on Arbitrum. This is the tier Aave’s risk team was most worried about when they pushed the “withdraw” message on Friday. Arbitrum has no Umbrella backstop, so the DAO response determines whether suppliers there get made whole via AAVE issuance or forced to share the loss pro-rata. The longer governance takes, and the smaller KelpDAO’s socialization ends up being, the higher the probability that some portion of the Arbitrum hit lands on suppliers directly. Ethereum WETH suppliers face the same risk at a smaller scale only if AAVE issuance proves politically unworkable.
Tier 6: Everyone else. KelpDAO the DAO will likely spend treasury on partial compensation. LayerZero will eat reputational damage and is under obvious pressure to tighten its default DVN recommendations in the aftermath. Competing LRT protocols (Ether.fi, Renzo, Puffer) are not directly exposed, but the whole category is going to see users reassess bridge security, with an advantage to issuers already running multi-DVN or alternative messaging layers.
The Uncomfortable Questions Why was a $1B protocol running a 1-of-1 DVN? LayerZero’s own security model gives applications full control over their verifier stack precisely so they can match it to the value they’re securing, and multi-DVN setups have been standard recommendation for any OFT handling significant value. Somebody at KelpDAO, at an advising firm, or at an integrator signed off on a single-DVN production config for a token that had grown to over $1B in TVL. That decision is now the story, not LayerZero’s protocol design.
Were the DVN keys actually compromised, or was the attestation logic bypassed some other way? Both KelpDAO and LayerZero have promised a root-cause post-mortem. The forensic question that matters for every other OFT in production is whether the LayerZero Labs DVN key material leaked, a signer was socially engineered, or a signature-forging bug existed upstream. The answer determines whether every other 1-of-1 OFT on LayerZero is currently exposed. And there are many.
How did audits miss this? They probably didn’t. The bridge adapter code is standard LayerZero OFT boilerplate; there’s nothing wrong with the contract. The fault is in the deployment configuration, which sits outside the usual scope of a Solidity audit. Config reviews are a much newer discipline, and this exploit is going to accelerate that market considerably.
What does Aave do about LRTs as collateral going forward? This is the second time in 2026 that an LRT collateral accepted on Aave has produced a nine-figure incident downstream of a non-Aave failure. Risk parameters will tighten, loan-to-value ratios on restaking collateral will come down, and the debate over whether LRTs should be isolation-mode-only on every major lending market is going to get louder.
What does this mean for LayerZero’s institutional pitch? LayerZero has been positioning itself as the messaging layer for traditional finance’s tokenization rollout. A production failure at this scale, in a configuration that was always within the application developer’s control rather than an inherent protocol flaw, is a setback, but it’s also a case study. If the post-mortem is clean, defaults tighten, and existing OFTs migrate to multi-DVN stacks quickly, the damage is contained. If it drags out, the institutional counterparty diligence LayerZero has spent two years building up takes a real hit.
The Lesson That Keeps Repeating Every nine-figure DeFi incident of the last two years has the same structural shape. The core protocol does what it’s supposed to do. Some privileged component on the edge, whether that’s an off-chain signer, a bridge validator, an operator key, or a configuration that was supposed to be temporary, carries more trust than the rest of the stack was aware of. Somebody figures out where that concentration sits, and the full weight of the composed system falls through it.
The Resolv USR exploit in March was a single-signer SERVICE_ROLE that could mint arbitrary amounts of a stablecoin. The KelpDAO exploit is a single-verifier DVN that could authorize arbitrary cross-chain releases. Different protocol, different token class, identical architectural shape: one key, no meaningful check beyond it, and a downstream composability layer that had already assumed the thing behind the key was sound.
The LRT category in particular has spent the last year adding more layers (more chains, more wrappers, more lending integrations, more yield vaults that lend against vaults that lend against wrappers) on top of a base that is fundamentally a three-way trust assumption between the staker, the restaker, and the bridge. Each additional layer compounds yield by a handful of basis points. Each additional layer also compounds the attack surface in ways that are hard to price. The rsETH supply on the 20 bridged chains wasn’t a feature. It was a liability that grew quietly until one forged packet turned it all into bad debt.
The practical takeaway for anyone actually using this stuff is narrow and boring: before you treat a bridged LRT as interchangeable with its mainnet counterpart, look at the bridge’s verifier configuration. Lenders integrating LRTs as collateral have to reckon with a simple fact: the counterparty isn’t the LRT issuer alone. It’s the LRT issuer plus whatever messaging stack sits between mainnet and wherever the wrapped token shows up. At the ecosystem level, the boring parts of security (key management, config reviews, multi-party attestation) are where the next nine-figure incident is going to come from too. Until someone finally makes the boring parts the default.
Aave will recover. Umbrella stakers on Ethereum will take the full hit they volunteered for, the DAO will vote AAVE issuance to cover the residual the vault couldn’t absorb, and the event will accelerate Umbrella’s expansion to every network that wasn’t covered this weekend. rsETH will either migrate to a multi-DVN stack or lose meaningful share to the LRT competitors that already run one. LayerZero will quietly tighten its defaults. And the next exploit will come from whichever protocol hasn’t yet asked the question: “what single key is currently trusted to authorize nine figures on our system?”
That’s the question every DeFi product owner should be writing down today.
Hacking incidents in the cryptocurrency market seem never-ending. Most recently, another DeFi protocol was targeted.
Accordingly, the Bitcoin-focused DeFi protocol Echo Protocol was vulnerable today, making it the latest in a wave of DeFi attacks this year.
Echo Protocol, a Monad (MON)-based Bitcoin liquidity project, announced via its X account that a security vulnerability had occurred in its bridge.
The team stated that they are investigating the incident and announced that they have temporarily suspended all cross-chain transactions.
This announcement comes after Onchain Lens reported that Echo Protocol was exposed to a security vulnerability worth $76.7 million.
According to onchain analyst Onchain lnes, the attacker generated 1,000 eBTC, the protocol’s liquidity token, on Monad and used it as collateral to borrow WBTC.
He then bridged the WBTC to Ethereum, converting it to ETH, and sent it to the cryptocurrency mixer Tornado Cash.
Following the hack news, the price of Echo Protocol (ECHO) fell. ECHO is listed on Binance Alpha, Binance’s pre-listing pool.
*This is not investment advice.
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The gig economy has witnessed a worldwide boom in recent years. Estimates show that about 36% of US workers are currently involved within the gig economy. Further statistics indicate that if this growth continues, the share of the US workforce will increase to over 50% by 2027.
This is no small-time affair. The gig economy is verging on creating an entirely new era of employment, and the benefits afforded to individuals and corporations alike are extensive. For both, these perks come in the form of increased efficiency and flexibility.
However, there are some distinct drawbacks, especially for freelancers. The gig economy can be a fickle place. Assignments can dry up, benefits associated with cushy desk job are non-existent, and most harmful of all, contracts can be broken on a whim.
The rise of the gig economy has seen companies like Uber become tech unicorns. Image: ShutterstockNevertheless, there is a solution. Looking to disrupt the gig economy—along with everything else—is blockchain. Bringing a much-needed air of transparency to the burgeoning gig economy, decentralized freelancer marketplaces are growing in popularity. Here are a few attempting to disrupt the status quo.
1. Ethlance
Coupling smart contracts with a file exchange protocol and a web-based UX, Ethlance is one such decentralized marketplace looking to intervene in the job economy's centralized monopoly.
Far from the overheads of its traditional counterparts, Ethlance is a 100% free, and open-source marketplace for jobs. It simply connects up those providing jobs with those looking for them. No middleman involved.
Although users still pay a small fee to cover transaction fees, being unreliant on a single database or host provides Ethlance with an advantage that many centralized marketplaces simply don't have.
2. LaborX
Created by the blockchain ecosystem, Chronobank, LaborX matches job seekers with employers, enhancing the prospects of freelancers by initiating training programs aiming to create the best fit for both.
The firm only takes a one percent commission on the job's settlement, making it an economically sound model for freelancers.
3. Blocklancer
A so-called distributed autonomous job market, Blocklancer —much like Ethlance—runs on the ethereum network and connects project creators and job hunters.
Attempting to please all sides at once, Blocklancer allows employers to pay only if they're 100% satisfied with the work. The platform negates payment disagreements via a distributed dispute resolution system. Dubbed, token holder tribunals (THT), holders of the Lancer token may vote on dispute matters in order to reach a consensus.
Blocklancer doesn't charge for job postings but takes a 3% freelancer fees—a charge that the firm claims is still cheaper than centralized alternatives.
4. Bounties Network
A slight divergence from the typical job economy marketplace, the Bounties Network centers around self-organization. Built upon the Ethereum network, the decentralized job marketplace allows anyone to create or fulfill "bounties."
However, rather than picking a candidate to fulfill the bounty, workers compete to produce the best work. Successful submissions are remunerated in ETH or other ERC-20 tokens, automatically released once the submission is chosen.
5. Mentat
Another open-source marketplace, the San Francisco-based Mentat partners employers with employees via query-response smart contracts—tracking workers skills and making the right match.
Through this automated matching method, Mentat cut out the overheads associated with typical freelancer marketplaces. Smart contracts also allow for autonomous payments once the assignment is finished.
With the job economy flourishing, and the disadvantages of centralized platforms slowly coming to light, blockchain-based solutions might just be the answer.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
On February 21st, Charlie Lee of Litecoin took to Twitter and made a cryptic tweet about WEG Bank’s exciting product pipeline. Needless to say, the promise of a traditional banking institution getting more heavily involved in cryptocurrency went down very well in the Crypto Twitterverse:
What exciting new products were Charlie Lee hinting about? A week later, it seems like we have the one of the answers and it appears that it involves WEG Bank’s new partners, Nimiq and Agora Trade.
The Blueprint For A New Crypto-to-Fiat BridgeNimiq, a disruptive crypto payment system, recently announced that the project has created the blueprint for making fiat currency (USD, EUR, etc) blockchain-compatible. Work on this new Crypto-to-Fiat bridge has been pursued in collaboration with both WEG Bank and Agora Trade.
In a nutshell, this innovation is focused on making fiat currencies, like the Euro, directly behave as if it were a token on the blockchain. This enables seamless value exchange between the crypto and traditional banking worlds.
The members of the partnership. Image via Weg-Bank
Furthermore, Nimiq has removed the need for a single centralized intermediary eg. payment processors and exchanges, to control the two assets being traded. Even better, this functions without a third party ever controlling the private keys of the crypto asset.
Now, this may sound like a word salad to many people. Put simply, all this means is that Nimiq has found a way for crypto holders to sell their coins directly to fiat bank account holders and vice versa, without entrusting crypto assets to a third party like an exchange.
Anyone who has actually bought or sold crypto assets for fiat currency, will know that it’s not as straight forward or seamless as it should be. Indeed, you could be waiting for a couple of days for your fiat deposit to hit Coinbase and then you have to transfer Bitcoin or Ethereum to a crypto-to-crypto exchange to buy that altcoin you want.
All this creates a chain of hoops to jump through and the truth is that many people just give up. That’s bad news for wider crypto adoption.
In addition, the Quadriga scandal, where a cryptocurrency exchange allegedly lost the private keys to $135 million of user funds, highlights the benefits of giving crypto holders an alternative way to sell their coins for fiat currency, without having to entrust private keys to an exchange.
Nimiq’s new approach is aiming to revolutionize how value is exchanged between the traditional banking system and the cryptocurrency universe, by removing many of the complications and barriers that exist.
Not only is this innovation disruptive for current cryptocurrency holders, but it has the potential to make cryptocurrency markets significantly more accessible and safer for new crypto supporters too.
Blockchain-Compatible Fiat: How Is It Disruptive?Nimiq’s new blueprint has the potential to eliminate unnecessary middlemen for crypto holders and merchants alike.
Online crypto payment processors:Smooth out the friction that exists between the cryptocurrency and traditional banking world, by enabling value to be exchanged between the two ecosystems. The problem is that these middlemen (like Simplex) typically charge up to 5% on transactions and add yet another layer that needs to be trusted by crypto holders.
Nimiq’s new crypto-to-fiat bridge could completely disrupt and remove the need for online crypto payment processors. By directly integrating with decentralized exchanges, it eliminates the need for third-party custodial processors like BitPay.
Over-the-Counter (OTC)According to TABB Group research, these markets are three times bigger than exchange markets and they simply match high-value crypto holders with high-value fiat buyers.
Needless to say, OTC operators charge significant fees for this service and if Nimiq’s new solution reaches scale, it could pose a significant challenge to these markets by offering a convenient and efficient solution to match and execute transfers between crypto and fiat.
StablecoinsThis market currently stands at ~$2.8 billion. One of the main uses of stable coins (which attempt to replicate the value of the dollar) is providing a convenient way for crypto owners to hedge against the volatility of crypto markets.
Nimiq’s new crypto-to-fiat bridge is set to give crypto owners a new and convenient way to move their funds to real fiat, whilst also removing the need to trust unaudited stable coins.
Hello Nimiq OASISNimiq, working with WEG Bank AG and the non-custodial cryptocurrency exchange Agora.Trade, is pioneering a totally new approach to how banks deal with crypto by building a crypto-to-fiat bridge.
If those names sound familiar, it is because Litecoin and TokenPay each hold a stake in WEG Bank and Reto Trinkler made the Forbes ‘30 Under 30’ list.
This is a revolutionary collaboration that could provide the disruption needed to usher in mass adoption of crypto by making it far easier to interface between fiat and crypto.
Image via Nimiq
The groundbreaking blueprint allows fiat currency, like the Euro itself, to behave as if it was a token on the blockchain. The tech is called the Nimiq OASIS (Open Asset Swap Interaction Scheme), which is the middle layer solution connecting Agora Trade to WEG Bank.
Because it enables fiat to crypto exchange, this functions without needing to issue or use stable-coins. More details of this innovative solution can be found on Nimiq’s official blog.
Nimiq OASIS could completely disrupt how crypto is bought and sold with fiat currency. The wider vision is to allow other exchanges, bank, fiat and cryptocurrencies to integrate and leverage Nimiq OASIS in the future. This would allow even more crypto users and financial institutions to eliminate middlemen like payment processors and enable convenient value transfers between the two ecosystems.
Nimiq’s current partners made the following statements on the collaboration. According to Matthias von Hauff, CEO of WEG Bank AG:
For the past 12 months, we have been looking at various ways to expand our core banking activities into the blockchain community. With Nimiq, we have been able to develop not only a landmark payment interface which has the potential to revolutionize the way we deal with cryptocurrencies, but also an innovative and powerful partnership
And, according to Reto Trinkler, the co-founder of Agora Trade:
Overregulation and lack of innovation lead to the development of custodial exchanges and financial intermediaries such as stablecoins. By combining an easy-to-use payment token, a noncustodial exchange and an innovative fiat bank we go back to the heart of what blockchain is all about; Self-sovereignty and removing unnecessary middlemen
Agora Trade also took to Twitter after Nimiq’s official announcement was made. One thing is clear, Nimiq OASIS to closing the gap between the traditional banking system and cryptocurrency markets.
World watch out, blockchain-compatible fiat is coming!
Disclaimer: The author holds some NIM in their portfolio and is compensated in a long-term independent consulting capacity by Nimiq. This article must not be construed as investment advice. Always do your own research.
Trust Wallet has just announced full integration of Stellar Lumens (XLM), allowing users to send, receive and store XLM. Support has also been added for Aion (AION), Kin (KIN), Nimiq (NIM) and Thunder Token.
Owned by Binance, the multi-coin crypto wallet app supports thousands of digital assets, including ERC20 tokens. It has been rapidly expanding its list of supported coins after integrating Bitcoin, Bitcoin Cash and Litecoin in January.
Partial List of Supported Coins
Ethereum Ethereum Classic GoChain POA Network VeChain Tron Wanchain Callisto ICON Bitcoin Litecoin Bitcoin Cash TomoChain Dash Zcash Zcoin XRP KIN Nimiq Thunder Token Aion Stellar Trust Wallet has a built-in browser for DApps that allows users to trade cryptos and collectibles from their iOS and Android devices.
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Crypto Trading and Adoption
Binance, the world’s largest cryptocurrency exchange by trading volume, has announced Binance Coin and Tether trading pairs for Dash. The exchange will open trading for DASH/BNB and DASH/USDT on Thursday, March 27.
Dash, an open-source cryptocurrency forked from the Bitcoin protocol, is designed to be spent at everyday shops and locations. Dash reports having over 4,900 merchants worldwide, with a foothold in Venezuela where over 2,000 merchants are listed on the Discover Dash directory, from SkyDive Caribbean to medical practitioners, coffee shops, restaurants and retailers.
Crypto Donations
The Tor Project, an anonymity network that enables communication by concealing a user’s location and web activity to protect personal privacy and thwart censorship, is now accepting a number of cryptocurrencies in addition to Bitcoin. Tor now accepts donations in Litecoin, Ethereum, Dash, Augur, Zcash, Monero and Stellar Lumens.
We changed how we accept cryptocurrency, and you can now donate a slew of different kinds of coins directly to us. Thank you for the feedback.
Help keep Tor robust and secure: https://t.co/qe9Jp8vJny #bitcoin #litecoin #DASH #Ethereum #augur #Zcash #xmr #StellarLumens
— The Tor Project (@torproject) March 22, 2019
The non-profit organization says it will use the donations to pay 47 staff members who work to support the network on behalf of journalists, human rights defenders, domestic violence survivors, policymakers, diplomats, academic and research institutions.
On the 2nd April 2019, Nimiq (NIM) announced that the crypto project had acquired a 9.9% stake in WEG Bank AG.
This move further reinforces Nimiq’s pre-existing strategic partnership with WEG Bank and Agora.Trade on a potentially revolutionary crypto-to-fiat bridge.
In this article, we’ll take a look at how all the pieces of the Nimiq puzzle fit together, how this acquisition and partnership could just be the beginning of wider disruption for both the cryptocurrency and fin-tech industries.
The Wider Impact On Crypto & Fin-techNimiq’s acquisition of a stake in WEG Bank means that the project is committed to dedicating their top developer talent to execute the blueprint for an innovate crypto-to-fiat bridge called Nimiq OASIS. This fin-tech solution is customer facing and aims to connect the traditional banking system, via WEG Bank, to the cryptocurrency markets using Agora.Trade.
At one end of the bridge, you have WEG Bank and Agora.Trade (a decentralized exchange) is at the other end. At the center of the bridge is Nimiq OASIS which is what connects the banking and cryptocurrency worlds together and enables value to be transferred between the two ecosystems. This is made possible by Nimiq OASIS making fiat currencies like the USD or EUR, blockchain compatible.
Now the value transfer problem between cryptocurrencies and banks has existed ever since Bitcoin was first introduced into the world.
This pain point has seen the emergence of cryptocurrency payment processors like Bitpay and Simplex, who step in as a middle man to bridge these two ecosystems. Indeed, Charles Hoskinson, the founder of Cardano (ADA) recently spoke about the current state of crypto markets and commented:
What we are seeing is a collection of standards being created [that] will inevitably converge over the next three to five years to create a situation where you can move information and value between all these different systems ー not just Bitcoin to Litecoin to Ethereum to Cardano ー but also your regular bank account
Nimiq OASIS aims to achieve the transfer of value between cryptocurrency and a normal bank account. Furthermore, the target date for release is Q4 2019 and the first iteration of Nimiq OASIS is looking to support Bitcoin, Ethereum and NIM. The potential of Nimiq OASIS is nearly endless with Team Nimiq stating that:
Nimiq’s vision is to further expand Nimiq OASIS reach to other fiat currencies like the USD and additional crypto assets as other banks and cryptocurrency platforms can also be enabled to interface with Nimiq OASIS and provide their customer bases with a convenient and cheap way to buy or sell different cryptocurrencies with a bank account
So, in a nutshell, the Nimiq OASIS blueprint aims to deliver an easier and cheaper way for people to buy and sell cryptocurrencies using their bank account. This eliminates the need for crypto payment processors and can remove an additional fee layer. Now, that’s very disruptive in itself, but there's more.
Nimiq OASIS can also enable transactions to be processed without a single, centralized intermediary (like an exchange or payment processor) controlling the two assets being exchanged, and without the private keys of the crypto asset ever being entrusted to a third party.
Maybe all that sounds like a word salad, but consider the QuadrigaCX situation earlier in 2019 and how $190 million in crypto assets became inaccessible to the exchange.
This issue demonstrates the benefit of a crypto owner never trusting their private keys to anyone else. Indeed, if all those QuadrigaCX users had held their own private keys then they would still have access to that $190 million worth of crypto.
WEG Bank’s part in the Nimiq OASIS blueprint is critical, for it is the way through which Nimiq OASIS can access the SEPA Instant network and enable the buying or selling of crypto with any bank part of that network.
This means that users wouldn’t have to have an account at WEG Bank to use Nimiq OASIS. Nimiq’s partnership and acquisition of a stake in WEG Bank demonstrate the commitment to making this fin-tech solution succeed.
More To Nimiq OASIS Then Meets The Eye?Currently, there are few banks looking to actively work with cryptocurrency projects or develop crypto-based solutions. Enabling retail banking customers to buy crypto doesn’t sound like that big a deal, however, the Financial Conduct Authority in the UK recently released a report and conducted a survey asking people why they were not buying cryptocurrencies.
An incredible 20% of people replied that lacked knowledge on how to buy cryptocurrencies. Nimiq OASIS could make buying crypto as simple as sending an online bank transfer and this highlights the benefits of making the buying and selling of crypto as simple as possible.
In the area of crypto payment processing, Nimiq OASIS could end up being a very disruptive force. The reason why is that many merchants don’t want to use a crypto payment processor like Simplex due to fees of up to 5%.
Now many online retailers operate off average net margins as low as 0.5% to 3.5%. That’s a huge disincentive for many merchants to accept cryptocurrencies and for some, accepting crypto payments could even result in the merchant making a loss.
Image via Nimiq
With Nimiq OASIS comes the potential for significantly lower fees by removing crypto payment processors as middlemen. The potential is there for Nimiq OASIS to actually spread the wider merchant adoption of cryptocurrencies by offering a cheaper alternative.
The stable-coin market could also be impacted. Today, these markets stand at around $2.8 billion, with the main use case of stable coins being to hedge against the volatility of crypto.
However, that hedge does come with some risks if people are using certain popular, unaudited stable-coins. Nimiq OASIS could offer crypto enthusiasts a different alternative to hedge against the markets with actual fiat.
No one really knows how large the crypto over-the-counter markets are. However, many agree that the volume on OTC desks is larger than that transacted over cryptocurrency exchanges. If you are not sure what OTC markets are, it’s just a complicated way of saying that crypto buyers, with fiat, are matched with crypto sellers wanting to sell for fiat currency.
Usually these markets are reserved for only high-value transactions and the OTC broker takes a cut of the transaction for making it all happen. If Nimiq OASIS gains high levels of liquidity, then it could offer current OTC buyers and sellers with an alternative option for their trades and enable Nimiq OASIS to eat into OTC market share.
From Nimiq’s recent stake acquisition, WEG Bank has further strengthened its partnership with Nimiq and this could make a lot of strategic sense when you know that the bank is focusing on expanding into the crypto niche. Matthias von Hauff, CEO of WEG Bank AG went on the record with the following comment.
For the past 12 months, we have been looking at various ways to expand our core banking activities into the blockchain community. With Nimiq, we have been able to develop not only a landmark payment interface which has the potential to revolutionize the way we deal with cryptocurrencies, but also an innovative and powerful partnership
Not only does WEG Bank play a critical role in the Nimiq OASIS solution, but the acquisition of a stake in the bank also opens up other opportunities for Nimiq. Prominent crypto projects like Litecoin and Tokenpay are already existing shareholders and twenty cryptocurrency projects are set to be selected for corporate accounts at WEG Bank, with Lisk already being confirmed.
The WEG Bank connection certainly brings with it the potential for Nimiq to grow even more meaningful partnerships and collaborative efforts.
A Brief Overview About NimiqThe thing to know is that Nimiq OASIS is just a single initiative that makes up the Nimiq project. Nimiq is a decentralized payment system, with an extensive ecosystem of apps, in which the NIM token is used as a store and transfer of value.
Sure, this sounds very similar to the the numerous other crypto payment systems out there like Dash.
However, Nimiq does differentiate with its cutting edge browser-based blockchain, which allows users to connect to it using only a web browser. This creates a installation-free experience, geared towards ease of use. Nimiq also compounds this approach by going to extraordinary lengths to make user interfaces simple and easy.
This approach and emphasis on simplicity have been inspired by Nimiq’s vision of making a cryptocurrency for the masses and not just the tech savvy. The focus on ease of use is probably a wise strategy given that companies like Apple have been able to achieve astonishing rates of product adoption by keeping things as simple as possible for users. Nimiq is built with a similar ethos in mind and this can be seen throughout the project.
Image via Nimiq
The Nimiq ecosystem is full of the teams and the best ideas from the Nimiq community.
Nimiq has created a frictionless, one-click pay webshop where you can get your hands on branded merchandise. However, one of the most promising components of the ecosystem is a new checkout flow, which is set to be released shortly to enable different e-commerce stores around the world to accept NIM as a payment method. This could be a critical part of Nimiq’s future if combined with Nimiq OASIS and this could provide merchants with a viable alternative to crypto payment processors.
If you scout around the Nimiq forum you’ll also be able to see that it appears that plans are already being hatched for Merchant adoption, with Nimiq publicly disclosing a list of merchant targets.
The Nimiq ecosystem also includes numerous tip bots for platforms like Reddit, Twitter, Twitch, Telegram, and Discord. It even has a browser-based Crypto-Tamagotchi game too.
Nimiq’s acquisition and strategic partnership with WEG Bank can be viewed as a smart springboard to further expand the project’s ecosystem, whilst enhancing its use-case as a payment system. Nimiq’s work is by no means done yet. However, there appears to be a lot of promise and potential there and it might be worth keeping a closer eye on project developments.
What is WEG Bank?WEG Bank is a German bank founded by CEO Matthias von Hauff. The bank has gained a reputation for being one of the best institutions in the German real estate banking sector and has set its sight on expansion into the corporate, crypto and retail sectors.
Image via WEG Bank
With Nimiq on board, it seems that the project could play a key role in helping WEG Bank expand into the cryptocurrency markets and get a head-start over other less progressive thinking banks.
Who are Agora Trade?Agora.Trade is a decentralized exchange under Swiss and Maltese ownership. They are led by Forbes 30 under 30 listmaker Reto Trinkler. The exchange has also partnered up with WEG Bank through their connection and involvement in Nimiq OASIS.
In addition, Reto is also collaborating on other cutting-edge blockchain research with Nimiq through his other company called Trinkler Software. This collaboration appears to be bearing fruit, with the proposed Albatross consensus algorithm being the first thing to out of this collaboration.
Albatross is a new proof-of-stake consensus algorithm and its believed that this is able to perform close to the theoretical maximum for a single chain. This research is currently being put to the test, however, it could provide a foundation for Nimiq to shift to proof-of-stake in the future.
ConclusionNimiq OASIS has the potential to play a big role in shaping the future landscape of the wider crypto and fin-tech sectors. The acquisition of a stake in WEG Bank further supports Nimiq’s commitment to delivering Nimiq OASIS and the strategic partnerships with both WEG Bank and Agora-Trade.
It also opens the door for Nimiq to forge additional partnerships with substance, with Litecoin and Tokenpay already being stakeholders, some of the twenty crypto projects set to be selected for corporate accounts might synergize well with Nimiq and lead to even more future collaborations.
However, it must be noted that Nimiq OASIS is only a blueprint right now and that the first Nimiq OASIS transaction isn’t expected till Q4 2019. Sometimes development work takes longer than anticipated and that target date is certainly not fixed.
What’s particularly interesting about Nimiq OASIS is that it has never been intended to be used exclusively for NIM. From the get-go, Bitcoin and Ethereum support are anticipated, with Nimiq already suggesting that the vision is to enable support for other cryptocurrencies. This means that the Nimiq OASIS effect could be felt out throughout the entire crypto market in the future.
If Nimiq OASIS succeeds with help from WEG Bank and Agora.Trade, it will certainly be interesting to see if this fin-tech solution starts to change the attitudes held by other banks towards cryptocurrencies. Maybe WEG Bank will be the first of many to embrace this new technology?
Only time will tell what the true impact of Nimiq will be…
However, given the scale of the possible disruption, it might be a good idea to keep closer tabs on the project and keep up to date with the project’s developments.
Disclaimer: The author holds some NIM in their portfolio and is compensated in a long-term independent consulting capacity by Nimiq. This article must not be construed as investment advice. Always do your own research.
Nimiq (NIM) is a cryptocurrency designed for the masses, built with an ethos of simplicity and ease of use at its core.
It is an open source and decentralised payment protocol that was developed with adoption in mind. By offering browser based access, the Nimiq team are providing a truly unique payment solution.
In this article we’ll tell you what Nimiq is all about, the role the NIM token plays and what the project has been up to since its initial crowdfunding.
Nimiq is a decentralized and censorship-resistant payment system in which the NIM token is transacted as a transfer and store of value.
The project differs from others with its innovative browser-first approach, this means that users can connect directly to the blockchain with nothing more than a web browser and is intermediary-free.
The benefit to users is that Nimiq enables them to use NIM without any installations and this gives the project a unique ‘it just works’ characteristic, which is combined with simple and easy user interfaces.
Image Source: Nimiq Blog
In essence, the Nimiq payment system is all about making things as easy, accessible and simple for the user as possible. The driving force behind this ethos is that Nimiq believes that cryptocurrencies need to be simple enough to use by a typical internet user to encourage wider adoption.
Nimiq’s emphasis on simplicity, ease of use and it’s browser-based approach means that the project aims to be a cryptocurrency for the masses and aims to gear itself to both tech-savvy and normal internet users alike.
Nimiq is also home to an ecosystem of dozens of apps and ‘best ideas’. The Nimiq Safe is a wallet app that requires no installation whatsoever and has no annoying wait times to download an entire copy of the blockchain.
Wallet Designed for Adoption
The ecosystem also contains numerous NIM tip bots for platforms such as Reddit, Twitch, and Discord. Additional content monetization opportunities are also offered via WordPress mining plugins and URL shorteners integrated with a NIM miner.
Fun Fact ?: Nimiq even has a Tamagotchi type game called Nimipet, which is powered by the NIM token.
However, the most exciting element of the current ecosystem is possibly Nimiq’s smooth, one click checkout-flow which is showcased in the Nimiq Shop. Nimiq is also working on its WooCommerce Nimiq Payment Gateway, a plugin that could play a vital role in wider merchant adoption of NIM in the future.
Right now, it appears that Nimiq is stepping up and going after merchant adoption. Around 200 merchant targets have already been listed publicly in the Nimiq forum.
In a nutshell, Nimiq can be summed up by:
The Vision: “ Barrier-free value exchange for everyone”Nimiq’s Mission: “To enable the most accessible, censorship-resistant payment solutions”Why A Browser-Based Blockchain Could Encourage Adoption?Nimiq was the first browser-based blockchain. How could this drive forward wider adoption of Nimiq?
Consider Apple; how has the company acquired such dominance in consumer hardware?
Well, a large part of the company’s success has been through making the interaction with technology seamless, easy and intuitive. In essence, they have created products for the masses which can be used by tech-savvy people and regular users alike.
Nimiq has taken a similar approach when it comes to creating their crypto payment system. Being browser-based means that users get that installation-free ‘it just works’ feel when using Nimiq. This is a far cry from other crypto payments systems which can be difficult for people new to crypto to wrap their heads around.
User Interface of Nimiq Browser Wallet. Straight and Simple
When it comes to digital payments systems, projects need to be aware of changing consumer trends. Traditional payments have seen a meteoric rise in mobile payments. This trend has been enabled by reliable and safe mobile payment infrastructure and has empowered users to enjoy a signficantly more convenient method of payment.
This means that if cryptocurrencies are to compete successfully with legacy payment methods, then they should probably take mobile accessibility very seriously.
Nimiq’s browser-based blockchain means that no large downloads are required and this enables users to use the Nimiq payment system in regions with low internet connectivity.
Astonishingly, even developed countries can have mobile connectivity. Around 33% of the UK population currently suffers from bad mobile data coverage. Unsurprisingly, this figure rises in developing countries.
This trend towards mobile payments has been recognized by Nimiq and is one of the reasons why their browser-based approach could hold significant value and has the potential to encourage wider crypto adoption.
Disruptive Potential: Nimiq OASIS, WEG Bank & Agora.TradeOn the 28th of February, Nimiq announced that it had partnered up with German-owned WEG Bank and the non-custodial cryptocurrency exchange Agora.Trade to create a potentially disruptive crypto-to-fiat bridge.
Before going any further it’s important to understand that the solution has a go-live target date of Q4 2019 and is currently only a blueprint.
In short, Nimiq’s innovative approach centers on making fiat currency (like the EUR and USD) directly behave as if it were a token on a blockchain. This provides a potentially revolutionary new way of connecting the crypto exchanges to the traditional banking network.
For anyone buying cryptocurrencies, you’ll probably notice that there are significant fees associated with depositing fiat currency on a crypto exchange. The reason why is that many crypto exchanges are forced to use crypto payment processors to bridge the crypto and traditional banking ecosystems.
The Nimiq, Agora and WEG Bank Partnership
That means that value exchange is not seamless and is the key reason why depositing Euros and USD on certain crypto exchanges can come with hefty fees.
Nimiq has developed a blueprint to potentially solve this issue and aim to develop Nimiq OASIS (Open Asset Swap Interaction Scheme). It initially aims to connect different crypto markets using the non-custodial Agora.Trade exchange to the traditional banking network via WEG Bank.
Nimiq OASIS is the middle layer which enables seamless value transfer between these two ecosystems through making fiat currency blockchain compatible. Put simply, the goal is for Nimiq to deliver an easy, cheap and fast way for users to buy cryptocurrency.
That’s not all. Nimiq’s solution also allows for the processing of transfers without a single, centralized intermediary (like a payment processor) controlling the two assets being exchanged, and without needing to entrust the private keys of the cryptocurrency asset to a third party.
What Pain Points Could Nimiq Solve?There are a number of barriers that make it hard for mass adoption of cryptocurrency. Some of these are related to the public's perception while others are due to legacy financial systems.
Given the unique approach that is being taken by Nimiq, there are a number of ways in which it can help ease the use and adoption of cryptocurrency.
Making Crypto Easier to Buy or SellDepositing fiat currency on an exchange can be time-consuming, confusing and incur large fees. Indeed, the UK Financial Conduct Authority released a report in March 2019 containing survey data to the question ‘why haven’t you bought any (cryptocurrency)?
20% responded that they ‘lack knowledge on how to buy cryptocurrency’.8% said that crypto was ‘too difficult or complex to buy’.2% responded that they had a ‘lack of knowledge’.This means if the survey data of the FCA is viewed as a representative of the overall population, then 30% of the people not already in cryptocurrency could benefit from an easy and convenient way to buy and sell cryptocurrency. This is exactly what Nimiq OASIS aims to do.
Q4: "Why haven't you bought any Cryptocurrency". Source: FCA
It is interesting to note that within the FCA report, only 29% of survey respondents said that crypto was “too risky to buy (eg due to their price change)”. Nimiq OASIS could empower retail banking customers at SEPA instant enabled banks, with a fast and easy way to buy or sell cryptocurrency for fiat and address a key pain point for wider crypto adoption.
Elimination of MiddlemenIf you are a cryptocurrency platform accepting fiat deposits or a merchant accepting crypto as a payment option, then chances are that you are using a cryptocurrency payment processor to act as a middleman between you and the traditional banking network. The problem is that some payment processor companies charge fees of up to 5%.
Now consider that many traditional online stores operate off margins as lows as 0.5% to 3.5% and you should see the problem for wider crypto adoption. Nimiq OASIS could provide a cheaper alternative and even help expand the range of merchants willing to accept crypto as a payment method.
Alternative To Over-The-Counter Markets (OTC)The world of crypto OTC markets is a murky one, to say the least. However, many speculate that the true value of OTC is in excess of that traded on public exchanges.
If this is true, this means that billions of dollars being traded OTC every single day. Needless to say, OTC brokers typically charge a large fee for their service and if Nimiq OASIS provides significant liquidity the solution could provide an interesting alternative to OTC.
Stable CoinsThe stable coin market currently stands at around $3 billion and these crypto assets are largely used by traders wanting to hedge their exposure to volatile crypto markets. However, some stable coins are unaudited (read Tether USDT) and there is little doubt that they come with risk over ‘real’ fiat.
Nimiq’s crypto-to-fiat bridge could potentially provide a viable alternative to stable coins and eat into market share.
Nimiq OASIS Is Just A BlueprintAs exciting as Nimiq OASIS could be, it is important to understand that it’s currently just a blueprint and there is no working product yet. However, Nimiq has backed up the Nimiq OASIS blueprint by acquiring a 9.9% stake in WEG Bank.
Could Oasis be a precursor to much more? Image via Nimiq
Needless to say, this stake acquisition is a statement of intent and illustrates the commitment of both WEG bank and Nimiq to the Nimiq OASIS initiative.
The really exciting thing about Nimiq OASIS is that its first iteration aims to support NIM, BTC, and ETH. The team has already stated that they are open to supporting other cryptocurrencies, exchanges and merchant solutions in the future too.
This means that if Nimiq OASIS succeeds, it can be viewed as a wider contribution to the overall cryptocurrency community and infrastructure.
Deeper Links Between Nimiq & Agora TradeNimiq is serious about pushing the boundaries of blockchain technology, which involves exploring new and revolutionary ideas. These research efforts include sponsoring a PHD position at Imperial College London and blockchain research at Stanford University.
Agora.Trade is led by Forbes 30 under 30 list-maker Reto Tinkler, who also heads up Trinkler Software. Nimiq and Trinkler Software have also opened up a blockchain research collaboration, the first results of which is a blueprint for the Albatross Consensus Algorithm.
Nimiq With Trinkler Software
This proof-of-stake consensus method has been reported to be able to perform close to the theoretical maximum for a single chain and could be the basis of Nimiq 2.0.
Both Nimiq and Trinkler Software are continuing to test the Albatross protocol and have begun to build a simulator to evaluate it.
It still remains to be seen what else will come out of Nimiq’s research efforts. The important thing to know is that the project takes an ad hoc approach to research and that research itself does not guarantee results or groundbreaking technological breakthroughs.
However, such research efforts can be viewed as key to driving the Nimiq ecosystem forward and contributing to the wider cryptocurrency space.
Nimiq Tech Vs. Bitcoin Vs. EthereumWhen it comes to evaluating any cryptocurrency, it is often useful to compare it to competitors and some of the biggest crypto projects out there. After all, what is the point of an altcoin which doesn’t have any advantages over Bitcoin?
Below, you can see two tables pitting Nimiq head to head with both Ethereum and Bitcoin. It is, however, important to note that Nimiq has two different entries.
The first is Nimiq with its current proof of work consensus method and Nimiq 2.0 is the performance expected if Nimiq migrates to proof-of-stake using the Albatross consensus mechanism.
Nimiq Compared to Bitcoin and Ethereum
Nimiq seems to be flying under the radar of many cryptocurrency enthusiasts. However, the project is still home to a rapidly growing and highly engaged community. The Nimiq team have decided to support their developer community with its own community funding initiative.
This enables any member of the community to submit proposals for funding and the Nimiq team also offers project teams with free security audits, mentorship, help with UI and UX and more.
Members of Nimiq's Enthusiastic Community
Evidence of the Nimiq communities high levels of engagement can be seen in Nimiq’s collaboration with Binance-owned Trust Wallet on the 27th March 2019. The integration of NIM into Trust Wallet was completely spearheaded by two community developers called Terorie and Vasconcelos.
The Nimiq community funding initiative is further strengthening the Nimiq ecosystem and increasing engagement in the Nimiq developer community.
Nimiq's ValuesNimiq is a tech-focused project and the team believes that meaningful impact should take precedence over mere business. That's why two percent of the overall NIM supply has been reserved for Nimiq’s charitable foundation.
These funds are vesting for ten years and the idea is that as the value of NIM grows, Nimiq’s charitable foundation will be empowered to support numerous great causes and initiatives.
The Nimiq team are particularly interested in supporting projects with high ecological and social impact.
The Nimiq TeamTeam Nimiq is made up of 19 team members in total. These are split between the following departments: core development, front-end, communication, infrastructure, documentation, legal, operations, and vlogs.
Nimiq's Team Members jumping for joy (and Crypto)
The team also leverages the expertise of several paid independent contributors:
Marketing & UX/UI: OverniceSEO: DCBerlinPress: TotalCrypto.ioLegal: MMESeveral regional community managers e.g. social media and translations.How Easy is Nimiq To Use?Are you interested in Nimiq and want to check out if it’s really as simple as it is claimed to be?
The good news is that you can try it out and some NIM for free. We estimate that it will take around 30 seconds to setup your new NIM wallet.
Stage 1: Enter Nimiq’s onboarding process through the link here and click ‘create wallet’.
Creating a Nimiq Wallet
Stage 2: Choose your unique identicon to help identify your wallet at a glance.
Choose an Identicon that Suits
Stage 3: Confirm your identicon selection.
You sure that Identicon works?
Stage 4: Key in your PIN.
Choose a quick access pin
Stage 5: You are good to go ahead and select Nimiq Safe.
Going through to Nimiq Safe
Finally: Receive or send NIM transactions using Nimiq Safe.
Getting started on Nimiq is literally that easy!
How to Buy Nimiq CoinCurrently, Nimiq is listed on the following centralized exchanges:
HitBTCHotbitTrade SatoshiBTC-AlphaAt Coin Bureau, we can only recommend crypto exchanges and platforms that we use ourselves. Unfortunately, after hearing about poor experiences on all the exchanges listed above, we cannot endorse any of them.
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However, the decentralized exchange Changelly can be used as a reputable place to buy NIM that we endorse.
ConclusionThere is little doubt that Nimiq is one of those promising cryptocurrency projects currently going under the radar.
We like Nimiq’s tech-focused approach, the potential ground-breaking innovation of Nimiq OASIS and the promising initial research outcomes. The strength of the Nimiq payment system can be seen as embodied by all these things, plus it is focused on ease of use and browser-based approach.
However, all this promise is simply potential right now. Research outcomes like Nimiq OASIS and Albatross are simply blueprints right now. NIM is also not accepted by many merchants right now either.
Anyone adding Nimiq to their watchlist must understand that there is a long road ahead for Nimiq to live up to their potential and that involves trusting Team Nimiq and their community to execute and scale the payment system successfully.
Although many things could go wrong and stop Nimiq achieving its lofty goals, the approach taken is certainly different from other cryptocurrency payment systems out there.
Nimiq’s acquisition of a stake in WEG Bank is also a big statement of intent and helps validate that the project is attempting to create the crypto-to-fiat bridge promised, rather than just promising vapourware.
Ultimately it’s your choice if you want to dive in deeper into the project. However, if you want to find out more, we highly recommend that you check out Nimiq’s official blog.
Featured Image via Fotolia
Disclaimer: The author holds some NIM in their portfolio and is compensated in a long-term independent consulting capacity by Nimiq. This article must not be construed as investment advice. Always do your own research.
When mass adoption? That’s the question on the minds of so many crypto fans. The short answer is that nobody knows ‘if’ or ‘when’ cryptocurrencies will be adopted by huge swathes of the general population.
What we do know is that although the 2017 bull market raised significant awareness about cryptocurrencies, the general adoption rates are still phenomenally low. The key question is why? The truth is that crypto still has a bit of a reputation problem.
We are sure many of you have experienced this yourself after telling family and friends that you have made that first Bitcoin purchase.
How many of you had an off-the-cuff comment about Bitcoin being the currency of criminals? We bet almost everyone reading this has had that experience at some point.
Severing Link Between Crypto & CriminalityYes, these attitudes to crypto can be annoying but they tell us something very important when it comes to growing the wider adoption of cryptocurrencies.
Namely, that crypto needs to break that association with criminality, which is still a hangover from the Silk Road incident way back in 2014.
Sadly, severing that link is no easy feat with news articles from the mainstream seemingly taking every opportunity to sensationalize cryptos links to crime.
Yes, it’s true that shady people use crypto for illicit purposes. However, what these article writers seem to be unaware of is that regular currencies like the USD are most used forms of money in the criminal underworld.
Is crypto really a hackers choice? Image via Fotolia
Also, how many ‘smart’ criminals really want to have their dodgy transactions stored immutably on a public blockchain for all to see?
Indeed, crypto seems an increasingly bad option for criminals when you consider that crypto-to-fiat on and off ramps require users to send in copies of their passport to execute trades or withdrawals. A bag full of $100 bills seems a much better way to obscure shady transactions, doesn’t it?
We cannot blame the general public for thinking that crypto is full of digital highwaymen up to no good. It’s a narrative they are constantly fed by the mainstream media and these are the types of people we need to embrace crypto for mass adoption to occur.
Now that’s a massive hurdle for crypto to overcome. However, one way of tackling it and changing opinion is a steady stream of articles highlighting the innovation and good things that are happening in the blockchain space.
Yes, there are many technical articles about the amazing innovations happening in the space. But does the average Joe really understand this? We think not.
Maybe the easiest way to plant the idea that ‘crypto is not so bad’ is to show people the progressive ethical companies embracing cryptocurrency as a method of payment and being able to tell people about the phenomenal amounts of crypto that was used to support these ethical businesses.
If the crypto community can pull together and make this happen, then maybe more people will change their tune when it comes to crypto and that could very well kick start the next wave of adoption.
Kindhumans is a new online store and education movement dedicated to making it easy for thoughtful consumers to buy the top eco-innovative, sustainability-focused products.
The store only lists brands that share the values of caring about the environment and making the world a kinder place. In short, Kindhumans aspires to be the home of eco-friendly products.
Some of the items in Kindhumans Store
Co-founder Justin Wilkenfeld explains the vision of Kindhumans:
We want to help streamline the efforts for conscious consumers to more easily identify, find and purchase quality products that are good for people and good for the planet.
Another key component of the initiative is education and inspiring people from around the world to see the value in ethically and responsibly sourced products. This includes raising awareness about product supply chains, the materials used and of course ensuring that consumers end up with great products. If that sounds interesting to you, then why not join the movement on Instagram or Facebook?
In the spirit of kindness, giving and making a difference, Kindhumans has also pledged to donate 1% of all Kindhumans store sales to support social and environmental causes
Why Buy Ethically Sourced Products?We’d like to think that the vast majority of people are good and care about the environment and our fellow humans. However, we do live increasingly busy lives and it’s hard to know the story behind behind the products we buy.
We are sure all of you own a smartphone and have not given the supply chain of that product much thought. The truth is that phone you have in your pocket has a story and a very complex supply chain.
Only Ethically Sourced. Image via YouTube
It will include a material called coltan, of which 60% of the world’s supply comes from the Democratic Republic of the Congo, with much of it mined by child labourers controlled by local strongmen or sourced from conflict zones.
Amnesty International have published reports in the past raising the concerns about Apple’s and Samsungs over-reliance on child labour in the DRC.
Now most of us are probably not okay with buying a product built with child slave labour and would rather support a company that has an ethically responsible supply chain. That’s why Kindhumans spend a lot of time reviewing products before they are listed in the Kindhumans store to ensure that they are:
Made by brands of high integrity and support transparencyAre cruelty-freeSupport communitiesShare the vision of environmental sustainabilityRefuse to use non-ethical materialsHave a mission of making the world a better placeThe Kindhumans vetting process considers everything from where the products come from, the different elements of the supply chain, the methods used to create the product and even how the product is disposed of at the end of its life.
This means that every item in the Kindhumans store has its seal of approval and ethically conscious consumers can shop there knowing that the Kindhumans team have thoroughly assessed eco-friendliness and sourcing of each product listed in the store.
All this makes it easier for consumers who care to ensure they are buying truly eco-friendly and ethical products.
Ethical Company Adopting CryptoPromoting transparency has been a core part of the Kindhumans identity from its inception and this is one area where the worlds of charity and blockchain tech can meet.
KindHumans and Nimiq Collaberation
Kindhumans have been exceptionally progressive and have chosen Nimiq (NIM) from a huge list of possible blockchains to record a hash of their annual transparency report on.
Kindhumans have also chosen to embrace cryptocurrency payments and accept Bitcoin, Ethereum, and NIM in their store via an integration with Nimiq Checkout.
The important thing to know is that Kindhumans could have chosen from a long list of crypto payment solutions to enable the store to accept cryptocurrency.
So, with the huge choice of solutions out there, why choose Nimiq to partner with? One of the key things for Kindhumans is that they like to partner with tech projects that share their ideals and values.
Nimiq Checkout Integrations
Nimiq is one of the few crypto projects that has had a strong focus on charity and supporting causes of high social and ecological impact upon its inception.
Indeed, 2% of the entire token supply was dedicated to the Nimiq Charity, which has the sole function of supporting eco-friendly causes and human development initiatives. This alignment in values is one of the core things powering forward the collaboration between Nimiq and Kindhumans.
However, values and ethos are not everything. Collaborations need to make business sense too and it seems that the Kindhumans team have understood the vast potential of future Nimiq Checkout updates to solve some of the key problems holding back crypto merchant adoption.
Nimiq OASIS Connects Banking & CryptoRight now, the Kindhumans store is powered by a crypto-only version of the Nimiq Checkout. From a merchant point of view, there is nothing really remarkable about this.
Potential Gateway Between Fiat & Crypto. Image via Nimiq
It simply allows crypto users like you and me to send BTC, ETH or NIM to merchants like Kindhumans in an integrated checkout process. Yes, you could argue that the interface is nicer and simpler than most of the other solutions out there, but the remarkable features of Nimiq Checkout are yet to come.
Kindhumans seem to be sold on the enhanced value propositions that will be opened up to merchants in future versions of Nimiq Checkout. The first ongoing research effort is Nimiq OASIS, which stands for the Open Asset Swap Interaction Scheme.
This is a blueprint for a crypto-to-fiat bridge, which makes fiat currencies like the Euro behave as if it were a token on the blockchain. In short, Nimiq OASIS aims to provide a new way of connecting the crypto world with the traditional banking network.
To give you an idea of the gravity of this technological solution, Cardano (ADA) Founder, Charles Hoskinson went on record in March 2019 to say:
What we are seeing is a collection of standards being created [that] will inevitably converge over the next three to five years to create a situation where you can move information and value between all these different systems ー not just Bitcoin to Litecoin to Ethereum to Cardano ー but also your regular bank account
Team Nimiq have already announced that they plan to integrate Nimiq OASIS into Nimiq Checkout and offer integrated merchants the ability to accept payments in Bitcoin, Ethereum and NIM in a completely non-custodial way.
Nimiq Checkout Overview
This will all be settled in Euros directly to their SEPA instant bank accounts. This means that Nimiq Checkout integrators like Kindhumans can benefit from:
Making new sales by accepting cryptocurrency through using the first non-custodial multi-crypto solution. The result is that merchants with no technical knowledge can accept crypto in their store and get Euros paid directly into their SEPA bank accounts quickly - all this without even touching any crypto.Cryptocurrencies are volatile and can swing wildly in price. Nimiq OASIS provides a solution to practically eliminates the volatility risks associated with merchants accepting crypto.In short, Nimiq OASIS aims to solve two of the main problems holding back merchant adoption: The volatility of crypto and making it much simpler for merchants to accept this new form of payment.
With Nimiq OASIS set to be rolled out in 2020, it much easier to see why Kindhumans opted for Nimiq Checkout integration today and pass on the numerous other crypto merchant solutions out there.
What's Backing Up Nimiq OASIS?Anyone who has been in crypto for a while will know that crypto projects tend to over-hype ‘technological innovations’ on the horizon and end up failing to deliver.
However, with Nimiq OASIS, there appears to be some serious substance behind the research effort. Nimiq announced in early 2019 that it had formed a strategic partnership with German owned WEG Bank.
This was given further weight by Nimiq acquiring a 9.9% stake in the bank and joining other stakeholders like Litecoin and TokenPay.
Nimiq & Ten31 Collaberation. Image via Ten31.com
The key thing to know here is that the WEG Bank and Nimiq relationship is focused on Nimiq OASIS. Via WEG Bank, Nimiq OASIS would be able to leverage the SEPA instant banking network and this would extend the reach of OASIS to over 2,000+ banks in 20 different countries.
WEG Bank also recently announced the launch of its crypto-focused banking unit called TEN31. Nimiq is heavily featured on the new site and this seems to indicate the vital role Nimiq will play in the future of TEN31 bank and the delivery of banking solutions to crypto-focussed businesses.
More Businesses Getting Involved?In October 2019, TEN31 Bank announced that Salamantex, a prominent crypto point of sale terminal provider, had also become a 9.9% stake stakeholder in the bank. The result is that TEN31 and WEG Bank are now 40% owned by crypto-focused businesses.
Tweet Announcing Collab With Salamantex. Image via Twitter
No official statement has yet been released. However, it would not be surprising to hear in the near future that Salamantex was planning to integrate Nimiq OASIS technology into its sales terminals and extend the reach of Nimiq OASIS to real world stores too.
So, when will Nimiq OASIS be ready?
The Nimiq team have already stated that the first test transactions should be complete by the end of 2019 and that the technology should be rolled out in 2020. These timeframes are also supported by information on the TEN31 website.
Addressing Scaling Issues With AlbatrossScaling is a massive problem faced by almost every crypto payment system and Nimiq is no different. However, Nimiq’s second major research effort is the Albatross proof-of-stake consensus algorithm which focuses on solving that very problem.
This is being pursued in collaboration with Trinkler Software and a technical paper has already been published. What’s astonishing is that the initial findings are that Albatross will achieve a performance close to the theoretical maximum of a single-chain protocol.
Albatross PoS Consensus Mechanism
The reason why this is important for Nimiq OASIS is that the process will use the Nimiq blockchain. This means that if Nimiq Checkout is adopted at scale, that the Nimiq blockchain will need to be capable of processing an ever increasing number of transactions, potentially causing a bottleneck.
Currently, the Nimiq blockchain is capable of processing 7 transactions per second (the same as Bitcoin).
However, with the testing of Albatross already in progress and its integration into Nimiq 2.0 scheduled for Q2 2020, it is expected that the Albatross improvements would see the Nimiq blockchain being capable of 1,000+ transactions per second. To place that into context, that’s an average five times more than PayPal has to manage.
The key thing to know here is that if Nimiq’s OASIS powered multi-crypto merchant solution really takes off, then Albatross is set to play a key role in ensuring that those crypto-to-fiat conversions remain quick for merchants.
Is Nimiq an Interesting Project?We consider Nimiq to be a hidden gem that’s flying under the radar of the crypto community. If you want to learn more, why not watch our deep dive video into the project?
ConclusionLike it or not, crypto still has a massive reputation problem amoungst a mainstream audience. Yes, that the link between crypto and criminality is likely to fade over time.
However, before crypto can truly be mass adopted, it needs to achieve mainstream acceptance. We believe that the key to changing that viewpoint is being able to show the doubters tangible examples where blockchain tech has been embraced and adopted to support good causes.
That’s where progressive ethical companies like Kindhumans can add tremendous value and help power forward crypto adoption.
It is also why you should consider supporting businesses like Kindhumans and show the mainstream the true spirit of the crypto community. If we can pull together and create that positive news-flow, then it will surely bring us one step closer to the mass adoption that so many in the crypto community wants.
The future and speed of wider adoption could very well be in your hands. Will you sit idly by or will you do your bit to help break the link between crypto and criminality?
The crypto market may be experiencing periods of uncertainty, but one thing hasn’t changed: the need for visibility. As thousands of blockchain projects compete for attention, having a smart marketing strategy has become essential.
Whether you’re preparing for an ICO, launching a DeFi product, or building in the metaverse, the right crypto marketing agency can amplify your message, grow your community, and set your project apart from the noise.
Below are eight top-tier crypto marketing agencies making waves in 2026.
Need For Crypto MarketingMarketing is an ongoing effort, not a ‘set it and forget it’ undertaking. You’ll see that even well-established brands such as Nike, Coca-Cola, and Ford Motors all invest heavily in marketing in order to remain at the top of their industries.
And with new and disruptive technologies like cryptocurrency, marketing is even more important because when it is done right, it not only educates people about your project, but it also acquires new project supporters and grows your community.
That’s why you’ll find that the most successful projects have invested heavily in crypto marketing, both before and after their ICO/STO. Marketing is a key strategy for helping to build a community around crypto projects. Without a strong community, even the best blockchain project will struggle and likely fall into obscurity.
Rather than recruiting an expensive in-house marketing team to run marketing campaigns, most crypto projects have chosen to outsource their marketing to specialists in the field and use a crypto marketing agency. The areas most typically handled by crypto marketing agencies include everything from social media and public relations to content marketing and display advertising.
Because marketing is so important to the success of a project, it is crucial that a good marketing agency is used. Not only must they be talented and effective, but they should also understand the vision and ethos of the project’s team. After all, how can anyone market something effectively without truly knowing what they are selling?
How to Choose the Best Crypto Marketing AgenciesAs it is not uncommon for businesses to typically spend anywhere between 5-20% of their annual revenue on marketing, they want to be sure they are getting the best bang for their buck. Here are some key factors to consider when selecting the right marketing agency for your business.
Specialism- Agencies specialize in different areas, so it is good to find one with experience in your niche. You need to determine your priorities, whether it is to generate leads, raise awareness, or increase sales, Not all marketing agencies possess the same capabilities in each area. You will also need to decide if you require an agency that specializes in a specific technology, whether your strategy is business to business (B2B) or business to customer (B2C), and what your future marketing strategy is going to look like.Experience- Look for a marketing agency that has worked with some key businesses in your niche. Finding an agency that works with a cereal company may not be as adept at helping market the future of finance or blockchain technology.Cultural Fit- There are some really "out there" wacky and "in-your-face" marketing agencies. Don't feel the need to select the loudest and most colourful marketing agency. Try and find one that matches your tone and the culture of your company. If your company is developing web3 blockchain storage, finding a marketing agency that can get you a high number of views by being loud and dancing on TikTok may not be the best approach.History- Any good marketing agency will want to show off their successful track record (if they have one). If not published on their website, don't be afraid to ask to see results from previous campaigns.Terms- Agencies have different approaches in how they charge for their services. Generally, an agency will work under one of the following options:Love it or hate it, social media is incredibly powerful and can make or break any budding company. Internet marketing is probably known by everybody, but a social media approach is crucial to include in ICO marketing tactics. You must be present, active, and engaging while building a community and trust on top social networking sites. LinkedIn, Discord, Telegram, and Twitter are just a few of the platforms where you will want to ensure a presence.
What do Crypto Agencies Charge?Generally, the fees charged are fixed hourly, while others charge monthly or campaign fees. Many providers can provide customized pricing based on your crypto business goals without indicating the exact price, since they can be variable. Obviously, the average agencies are custom priced to suit the service you require. A reputable marketing organization will first know your business objectives and then set KPIs. These are the most common fee structures:
Monthly retainer- Pay a fixed fee each monthPer hour- The agency will carry out work as agreed while charging an hourly ratePer project- The agency will submit a proposal for the specified project and terms with a fixed fee.Utilize Dedicated Blockchain Marketing SolutionsLet's face it, the traditional marketing playbook likely isn't going to cut it in blockchain as this industry is very new with all sorts of terms and concepts that didn't exist even just 5 years ago. There are so many misunderstandings when it comes to crypto, that there is a need for marketing experts with experience in the specific play you are going for. These are the most common solutions that web3 companies look for when deciding on a cryptocurrency marketing agency:
ICO/IEO/IDO Marketing- Companies that can help with a successful initial coin offering (ICO), initial DEX offering (IDO), or initial exchange offering (IEO) campaign
NFT Marketing- This one is important if your company is looking to integrate NFTs into a marketing strategySTO Marketing- This is necessary for teams looking to create a security token and market itDeFi Marketing- Agencies specializing in DeFi marketing can help grow your DeFi service organically and attract usersMetaverse Marketing- If you are planning on launching in a metaverse, be sure to find an agency with experience in this nascent industry.Many of the picks on this list are able to help with solutions that can address all of the above to create one comprehensive Web3 marketing strategy.
Top 8 Crypto Marketing AgenciesA few cryptocurrency marketing agencies are very well-versed in the markets, and they know what will be perceived as a value within the industry.
Choosing a specialist agency that is focused specifically on the crypto industry will help you hire personnel who know the market well, and can also connect projects with potential partners, organizations, and projects.
With all that aside, let’s have a look at the top picks for crypto marketing agencies in 2026.
theKollabFounded by Kian Azarmi, theKOLLAB is a next-generation marketing agency built exclusively for Web3. Backed by The Coin Bureau and trusted by top-tier blockchain brands like Trust Wallet, Travala, and Taiko, theKOLLAB is where crypto projects come when they’re serious about growth.
The Coin Bureau Has A Stake in theKollab. Image via theKollab
With a network of over 250+ crypto influencers, including industry giants like Altcoin Daily, Ash Crypto, and Miles Deutscher, theKOLLAB delivers powerful campaigns that drive reach, trust, and traction across the crypto space.
Here's what they offer:
Crypto influencer marketingSocial media marketingPublic relationsSEO and content marketingFundraisingPaid search and socialIf your project needs to go viral, scale user acquisition, or secure coverage in leading crypto publications, theKOLLAB is the agency that makes it happen.
Contact theKollab
CrowdcreateBased in Los Angeles, California, Crowdcreate has four years experience working in the tech and blockchain industry.
They’ve successfully helped over 60 different projects, including several in the blockchain space. The blockchain projects handled by Crowdcreate include:
Lendingblock - The first securities lending platform for the crypto economy.Galaxy eSoultions - Hybrid eCommerce ecosystem on blockchain in the multi-billion preowned and refurbished market.Zilla - Safely invest in an ICO with 1 click. Zilla makes ICOs easy to understand and evaluate.Open Platform - The first blockchain infrastructure for applications.Bezant - A decentralized payment platform enabling the creation of robust applications.Overall Crowdcreate has been responsible for raising $74.5 million for these five crypto projects. Forbes calls Crowdcreate:
The Number One Community Management & Growth Agency
Using data driven methodology, Crowdcreate is focused on PR outreach, influencer marketing, media management, video design and production, and branding for the crypto project.
Contact Crowdcreate
Priority TokenPriority Token is an international agency providing fundraising, promotion, and consulting for the blockchain/cryptocurrency industry. Based in the U.K., they have offices in London, Singapore, Moscow and Seoul. Over the years the agency has created a wide network of connections in the blockchain industry, as well as expertise with cryptocurrency promotion. This has made them one of the top three global ICO agencies for Marketing according to Hackernoon and Bitcoinist.
They offer tools such as referral projects, bounty (multi-token) programs, ICO management, group buys, real-time token emission, and other varieties of marketing campaigns. They can work with utility tokens in an ICO or IEO format, or with security tokens in an STO format.
Priority Token has worked with over 50 different projects, raising more than $200 million. Some of the notable clients have been:
Bitrewards - Blockchain rewards and loyalty platform.Playkey - Decentralized cloud gaming platform.Modultrade - Letter of Credit on blockchain without a bank.Even - Fast and Secured Decentralized Exchange Platform.Contact Priority Token
CrynetCrynet is based in Prague, Czech Republic, which positions them between their European customers, and the huge blockchain communities of Asia. This gives them global coverage, including throughout China, South Korea, and Japan.
The agency has successfully supported over 400 clients, raising in excess of $350 million in capital. It has also been named a top ten ICO Marketing Agency by GoodFirms, a B2B research platform focused on the world’s best IT companies and software.
Crynet was originally a digital marketing agency, but they have since grown into a full-service marketing agency. They have a wide range of services offered, including a broad selection for blockchain related projects. These services include PR campaigns, search ads, mobile promotion, social media and Telegram promotion, blockchain development support, tech services, and human resource support, and video demos.
Some past clients of Crynet include:
The Divi Project - A new solution to crypto's $10 Trillion Prize: Mass Adoption.HOQU - Bringing together merchants and affiliates without brokers using smart contracts to ensure transparent and fair deals.Earth Token - Creating a Natural Asset Marketplace to truly transform the Natural Capital Asset market.PlayKey - Decentralized Cloud Gaming.BetterBetting - Providing a Global Betting Liquidity Pool, BETR will become the exclusive crypto-currency of some of the world's leading gaming operators.Contact Crynet
ByzantiumThe Byzantium team began offering their services in 2017. Based out of Edinburgh, Scotland the team consists of members with expertise in blockchain tech, marketing, PR, and investing. They focus on helping crypto projects find their target audience and raise funds quickly.
Calling themselves a success provider for early stage ventures, Byzantium has raised $152 million for their 12 clients to date. These clients include:
Bankex - Smart Assets technology to develop a new generation of decentralized capital markets.NagaCoin - The world's first crypto gateway to trade any sort of financial instrument.CryptoPing - Bot for traders, which analyzes market movements, statistics, news, and social media, and gives buy and sell signals for crypto assets.HumanIQ - Financial services with its own cryptocurrency aimed at eradicating poverty in the emerging economies.The primary services offered by Byzantium include marketing and PR, connection building, and fundraising. In addition, they assess the crypto projects to determine their strong points and weak points, write whitepapers, develop roadmaps, calculate budgets, and develop distribution models and launch strategies for ICOs.
Contact Byzantium
CoinzillaCoinzilla is an advertising agency for blockchain and cryptocurrency projects with its headquarters in Romania. It assists these projects in gaining exposure and recognition for their upcoming ICOs and projects by setting up advertising campaigns with a variety of publications from within the blockchain industry.
Coinzilla isn’t terribly new in the crypto industry, having been established in November 2016. Since that time is has delivered over 12,000 campaigns and as of January 2020 it sees over 280 million ad impressions a month on over 450 different websites. It has served over 10,000 advertisers since 2016, and placed ads on over 20,000 publishers websites.
Coinzilla’s main services feature banner advertising, targeted ICO marketing, API development for campaign ads, budget capping and many other tools that help the promotion of a project.
Contact Coinzilla
ApplicatureApplicature is a San Francisco, CA based agency with a variety of available marketing and advertising strategies available to their clients. With additional sales offices located in Los Angeles, and Washington, D.C., it has recently begun growing its consulting, R&D, and marketing with offices in Kyiv and Ivano-Frankivsk, Ukraine.
The brand was launched in 2011 by blockchain experts, who actually work with the code. One of the founders was one of the first to write a smart contract on the Ethereum blockchain. Now the Applicature agency helps blockchain projects in a variety of way, including reviewing their business models and suggesting adjustments to better align them in the ever-changing crypto industry.
Currently Applicature has five primary service offerings:
Consulting - Assist businesses in selecting an appropriate decentralized technology for the business model or token offering.Marketing - Applicature delivers premium marketing services to boost crypto projects.Blockchain Development – Applicature’s expert team of developers can build decentralized applications on best blockchain platforms with smart-contract execution, develop your own digital asset or integrate blockchain technology into your existing system.Investor Relations for Startups – Expert hands-on approach with powerful fundraising recommendations and performance benchmarks.Business Development - Implement strategies to attract global clients and increase awareness of the crypto project.Since 2011 Applicature has helped over 100 clients with more than 150 projects, raising in excess of $300 million along the way. They’ve helped in the development of the blockchain based game CryptoFights, developed an Ethereum fork for Auxilium and shifted them Applicature Ethereum Proof of Stake (AEPoS), and helped SupplyBloc with their tokensale smart contract design.
Contact Applicature
SparkchainSparkchain is a crypto marketing agency based in Silicon Valley, with additional offices in Manhattan and Johannesburg, South Africa, and was established in 1999. Since then it has been marketing and advertising for emerging tech companies, financial companies, and most recently blockchain companies. They’ve worked with leading brands around the world, from upstarts to the Fortune 500, launched over 1000 tech companies, and their clients have seen $17B in exits.
They use public relations and integrated marketing campaigns to help their clients build a brand. As you might imagine, their offering are very broad, with services that include data-driven strategic planning, programmatic advertising, and basic content and social media promotion and social media marketing.
Sparkchain has had success with clients in both the pre and post-ICO phase, and can help with ICO marketing. Sparkchain has worked with such clients as:
PeerPlaysCoinDashElphSenSaySimple TokenThrough their expertise they’ve been able to help their clients grow, while also achieving added brand recognition. Because of their proven results they are the firt choice for many projects in their marketing campaigns.
Contact Sparkchain
Benefits of Hiring a Cryptocurrency Marketing AgencyHiring a cryptocurrency marketing agency can help you reach a larger audience, build brand awareness, generate more leads and increase profits. They can also help you create campaigns that are tailored to your specific goals, create engaging content, and ensure that your marketing messages are consistent across all channels. Additionally, they can provide you with up-to-date industry information, helping you stay ahead of the competition.
There is an old cliche that goes "fail to plan, then plan to fail," and when it comes to marketing, this certainly rings true. In our modern digital era, there is fierce competition from companies who are battling for our attention. Without a proper, well-constructed, and dedicated marketing plan, it will be incredibly difficult to outpace any competitors in the industry.
Work with Subject Matter ExpertsCrypto marketing teams with expertise can help you make connections with industry professionals. This is an effective and efficient way to reach your business objectives quickly. What's more, you can save costs since an online marketing agency can provide access to the necessary digital marketing resources at a lower cost. One also has to consider the time costs involved, if a subject matter expert can accomplish a task in half the amount of time as someone inexperienced, this could lead to considerable savings in the long run.
Another benefit to working with an expert is the expertise and experience you will gain. If you utilize a marketing agency and subject matter expert on your first marketing campaign, learn as much as you can and then you may be well-positioned to run your own campaigns in the future, and not need to hire any outside help.
Keep up to Date with Marketing TrendsAs blockchain startup companies, it's important to keep up with the latest trends to gain a competitive edge, especially when working in an industry as fast-paced as crypto. The choices on this list can help provide a crypto marketing strategy and keep you informed about the latest cryptocurrency, blockchain marketing and ICO marketing techniques. Companies can easily change their SEO, PPC and Advertising strategies to suit changing customer behaviours and trends.
ConclusionWhen it comes to marketing a crypto project, it is vitally important to find a marketing agency that understands both blockchain and crypto marketing execution. That means the choice of a marketing agency could be one of the most important in a blockchain project’s existence. A good blockchain marketing company could be worth its weight in gold.
Don’t forget that execution is important, but it isn’t everything. Communication flow is equally important. Project founders need an agency that understands them and can work effectively, whether the founder is taking an active role in marketing or not.
Just as cryptocurrency projects work in different ways, so too do marketing agencies work in different ways, and choosing one that fits the project and is compatible with the business model can mean the difference between an average marketing campaign and a real blockbuster.
At the end of the day, it’s a wise decision to take some time and evaluate several crypto marketing agencies to see which one will provide the best services for the project’s needs. It’s also good to see the style of the agency before working with them.
Most of the agencies in the list above will provide a free initial consultation, and that’s a good time to get to know them and their style, and find out what value they can add to the project. Marketing doesn’t come cheap, but the benefits it provides can be invaluable.
Hytopia, a Minecraft-like sandbox game previously known as NFT Worlds, is set to roll out a closed beta test this month after raising millions of dollars through a node sale for its Ethereum layer-2 network, Hychain.
The Hychain sale raised 2,098 ETH in March, or more than $8 million worth at the time, as users purchased nodes that help secure the Arbitrum-based gaming network and also allow them to earn TOPIA tokens in the process.
In total, 250 million TOPIA—about $17.5 million worth at present—will be doled out to node operators, along with a 25% share of transaction fees. The Hychain nodes went live on Tuesday following last month’s sale.
Nearly 17,000 node keys have been sold to date out of 50,000 in total, and the sale will remain ongoing while Hychain nodes are still available. Hychain said that it paid out 254 ETH (about $1 million worth at the time) worth of incentives to content creators and influencers who helped promote the node sale via their respective creator codes.
"We are thrilled by the community's enthusiastic response to the Hychain node sale and are equally excited for players to explore the Hychain mainnet," said pseudonymous co-founder ArkDev, in a release. "These milestones are a clear indication of the community's desire for a new permissionless [layer-2] blockchain that enables seamless and frictionless publishing of Web3 games."
Hytopia, the flagship game that will kick off the Hychain rollout, will debut its closed beta test this month after amassing 1.25 million pre-registrations for the game.
Decrypt’s GG recently spoke with ArkDev about the game’s transition from the Minecraft-based NFT Worlds project to an original crypto game that mashes up elements of both Minecraft and Roblox, as well as the team’s plans to attract other game developers with Hychain.
Editor’s note: This article was written with the assistance of AI. Edited and fact-checked by Andrew Hayward.
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Overview: In the fast-paced realm of cryptocurrency, insightful Storj price predictions and XRP price predictions are invaluable for investors aiming to capitalize on digital assets. This guide not only covers the Bitcoin price prediction but also delves into the emerging tokens with Tamadoge price prediction and HBAR price prediction, rounding off with an analysis on the Ethereum price prediction.
Storj Price Prediction: A Glimpse Into the Future Storj price prediction reveals the potential for significant growth as decentralized storage gains traction. By understanding the factors that could drive Storj’s value, investors can make strategic decisions, highlighting the importance of accurate Storj price predictions in crafting a profitable investment portfolio.
XRP Price Prediction: Beyond the Challenges Given its legal battles, *XRP* price prediction becomes a complex, yet intriguing topic. This section not only provides an XRP price prediction but also offers insights into the currency’s resilience and potential for recovery, aiding investors in navigating the volatility of the crypto market.
Bitcoin Price Prediction: The Benchmark of Cryptocurrencies As the flagship cryptocurrency, Bitcoin price prediction serves as a market indicator. This analysis explores how global economic factors and adoption rates affect the *BTC* price prediction, offering a roadmap for investors looking to maximize returns on Bitcoin investments.
Tamadoge Price Prediction: The Rising Star The Tamadoge price prediction underscores its potential in a market hungry for innovation. As we unravel the Tamadoge price prediction, it’s clear that this crypto brings more than just speculative value, suggesting a bright future for those investing early.
HBAR Price Prediction: A New Era of Efficiency HBAR price prediction highlights its unique technological foundation and market position. This segment not only focuses on HBAR price prediction but also on Hedera Hashgraph’s potential to redefine transactional processes, presenting a compelling case for HBAR investments.
Ethereum Price Prediction: Steering the Smart Contract Revolution Ethereum price prediction is crucial as it transitions to proof-of-stake. With Ethereum’s influence on decentralized applications, the *ETH* price prediction offers insights into how this major shift could impact its value and the broader blockchain ecosystem.
Pi Network Price Prediction: Streamlining Crypto Mining Pi Network price prediction is essential as the Pi coin is influenced by large supply and limited demand, with over 47 million users mostly unable to sell. Despite potential uses, expected mainnet launch sell-offs and regulatory issues could impact its overall growth.
Embracing the Cryptocurrency Movement By closely examining Storj price predictions, XRP price predictions, Bitcoin price predictions, Tamadoge price predictions, HBAR price predictions, Ethereum price predictions and Pi Network price prediction, investors are better equipped to navigate the complexities of the crypto market. These predictions serve as a compass, guiding through the volatile yet rewarding landscape of cryptocurrency investment.
AUTHOR
Mushumir Butt is a seasoned crypto journalist with over three years of experience reporting on the world of blockchain and cryptocurrency. At Blockchain Reporter, he delivers insightful news, in‐depth project reviews, and precise price analysis and predictions. With a strong background in SEO and digital marketing, Mushumir excels at breaking down complex trends into clear, accessible content, ensuring readers stay ahead in the fast‐paced crypto space.
