Fantom is a distributed, permissionless, accessible, intelligent contract framework for decentralized applications (dApps) and digital products. It is one of many blockchain networks designed as a competitor to Ethereum. The Fantom blockchain main net launched in December 2019, and its network design aims to address the blockchain trilemma by maintaining a stable equilibrium of scalability, safety, and decentralization.As with other Eth competitors, Fantom aims to provide more scalability and cheaper costs than the traditional first-mover intelligent contract system Ethereum 1.0 can. The infrastructure of Fantom is connected through its Asynchronous Byzantine Fault Tolerant (aBFT) Proof-of-Stake (PoS) agreement method, which ensures the network’s operating efficiency. The aBFT network topology is optimized for security while optimizing performance.Fantom Network StructureFantom is built on a custom “leaderless” proof-of-stake consensus mechanism called Lachesis, which protects the Fantom system and provides transaction speed and security. Lachesis is an aBFT consensus technique, which implies that network data may be processed at various times. The network can accept up to one-third of members participating in an erroneous or malicious activity without impairing network activities.Additionally, Lachesis has a near-instantaneous conclusion. This implies that transactions are verified and completed in an average of one second, with no need to wait for arduous block confirmations as with Proof-of-Work (PoW) networks. This aBFT system is much quicker and more scalable than typical Byzantine Fault Tolerant (BFT) systems by omitting the somewhat long block confirmation phase.When we look more closely at how Fantom’s Lachesis works, we discover that each network node has its own Directed Acyclic Graph (DAG). DAG stores the chronology of “event blocks”and their associated transactions, each node attaining internal agreement separately. Verified batches of event blocks are subsequently assembled into completed blocks and verified on the more extensive Fantom network. Finalized blocks, which comprise the Fantom blockchain’s foundation layer, form…
Archives for April 2022
Interview with Oleg Kotliarov, CEO at Attarius Network
“Disclaimer: The Capital has received payment in exchange for writing this article”Oleg, thanks for taking time to join me for this interview and shed some light on Attarius Network for our community. Can you give us a glimpse of your background? What is the backstory of your company?My crypto adventure began in the DeFi space, where I gained extensive knowledge of decentralized finance and blockchain. I became fascinated with the gaming industry along the way and decided to learn more about it. I was a part of some major gaming projects that were a huge success with the users. All of these experiences motivated me to co-found Attarius Network with a lofty goal in mind: to provide equal access and opportunities for gamers and developers through blockchain technologies while removing all entry barriers.Why did you engage in the cryptocurrency industry, and where do you think the industry will be in 5–10 years?Bitcoin piqued my interest at first, and from there I began to apply it to my interest in finance and how it could be used to reshape the traditional financial system. Back in 2019, I started to build DeFi protocol, one of my first apps, which was very different from the Attarius Network. I am glad I got into the gaming crypto space as the combination of cryptocurrency and gaming is growing at a rapid pace. Moreover, Web 3.0 opens up a plethora of new opportunities for learning, acquiring new skills, selling, advertising, and generating new revenue streams for the many users who will participate in the meta-economy. When gamified scenarios are combined with Web3.0, the new generation of decentralized internet infrastructure, the future potential of digital ecosystems based on gaming is significantly increased. There will be numerous opportunities for businesses to sell and place branding in virtual worlds…
Ragdoll Cat NFT Marketplace is Coming Soon with a New Token
Ragdoll Cat NFT’s team has recently announced the launch of a new NFT marketplace coupled with a cryptocurrency, the RDC token.The team’s social media are continuously sharing information about this initiative, and the market is starting to look with interest at the project.Unveiling the Project’s EcosystemRagdoll Cat NFT can be your entrance to engaging in the purchase and sale of digital assets ranging from art to music and whole virtual worlds if you are familiar with NFTs or are interested in creating, buying, selling, storing, and collecting NFTs.“Live Cat Marketplace” is a non-profit marketplace or platform for Ragdoll Cats that aspires to offer cats everlasting homes.Locating a cat buyer or seller in your area has never been easier. You may purchase or sell cats anywhere globally by going to the project’s online marketplace for cats. It’s the first and only location on the internet where you can find and buy cats for sale from registered cat breeders worldwide.The project also offers an innovative staking service. Knowing that staking is a technique to earn crypto for simply holding the token is a critical takeaway for many dealers and investors. If you’re only hoping to make a few bucks through staking, it’s helpful to know how and why the system works. Put your faith in your RDC and watch its volume growth over time.The RDC Token AnnouncementThe RDC token will run on the BNB Chain with a total supply of 21 billion samples. A relevant part of this amount will go to the market, and it will be divided between private and public pre-sale rounds (respectively, 20% and 34.29% of the token supply).The remaining part of the tokens will be allocated to the development team (7.14%), marketing operations (7.14%), market liquidity (24.34%), and giveaways & bonuses (7.09%).After the pre-sale, the team will…
MRHB.Network’s SouqNFT Marketplace Hosts World’s First NFT-based Halal Certifications
“Disclaimer: The Capital has received payment in exchange for writing this article.”Dubai, U.A.E. — Halal NFT marketplace SouqNFT now hosts the world’s first NFT-based halal compliance certifications. The NFT certificates, minted and issued by Shariah Experts Ltd., are powered by ethical decentralized finance (DeFi) platform MRHB.Network.These NFTs are the first completely immutable halal compliance certifications that have been recorded on a blockchain, providing newfound transparency to the halal certification sector. The NFTs will allow companies to publicly verify that their business practices and products are certified halal, which means they are ethical according to Islamic jurisprudence principles.“The trustless nature of NFT-based halal compliance certifications fills a pressing need in the halal economy sector, where certificate forgeries are common or difficult to validate, especially in the halal food industry. NFTs are unique and neither replaceable nor interchangeable — this makes them a perfect technology for immutable certificates,” said MRHB DeFi CEO Naquib Mohammed. “The complete transparency of blockchain also means that anybody can easily cross-check a certificate with Shariah Expert’s public key to verify beyond a shadow of a doubt that it was this specific Shariah advisory firm that minted the NFT and issued the certificate. By default, NFTs incorporate proof of ownership.”Shariah Experts, the issuer of the NFT certificates, is a London-based advisory firm founded in 2020 with the mission of guiding Web3 projects alongside Islamic principles. Shariah Experts’ fatwas (legal rulings) include Islamic banking and finance, gold and silver, zakat almsgiving for financial institutions and investors, and waqf charitable endowments. The company is headed by world renowned Shariah scholars Dr. Farrukh Habib and Mufti Billal Omarjee. Singapore-based gold crypto platform Cache.Gold is the first receiver of the halal certification in the form of NFT minted on SouqNFT marketplace.“Shariah Experts believe that tokenization of certificates in the form of NFTs…
The Magnet of Play-to-Earn, And What Could Sink It
The Play-to-earn (P2E) gaming model is full of potential. It is likely to revolutionize the video gaming industry more than any other technology since the internet.Reddit co-founder Alexis Ohanian has predicted that, in five years, 90% of gamers will be on play-to-earn platforms.In a December 2021 interview on the Where It Happens podcast, Ohanian, who now runs the venture capital firm Seven Seven Six, says that this model allows gamers to value their time properly.“Instead of being harvested for advertisements or being fleeced for dollars to buy stupid hammers you don’t actually own,” he states, “you will be playing some on-chain equivalent game that will be just as fun, but you’ll actually earn value, and you will be the harvester.”However, it is important to point out that the path to the play-to-earn success story is not going to be all smooth. There are a few obstacles that could sink the ship. Indeed, most play-to-earn games will die not long after they are launched.I will focus on the most serious of these obstacles in a moment.First things first.A play-to-earn game is a game that is designed to reward players with digital assets, in particular tokens. The players can convert these digital assets into a currency they can use in the real world.This model has been made possible by blockchain technology. Besides digital currencies, the blockchain is proving efficient in hosting other digital assets, including game applications and in-game assets such as skins, real estate, animals, and weapons.The assets on the blockchain exist as non-fungible tokens (NFT), which means that only the player has full control over them. No central authority can override their ownership, which is the case in the conventional gaming environment where a corporate entity can easily take an asset from a player.More importantly, the blockchain facilitates the building…
Stagflation Doesn’t Exist
Contrary to popular opinion.Source: Alyssa Powell/Insider — https://www.businessinsider.com/personal-finance/stagflationAs you may know, the term ‘stagflation’ refers to a situation where the economy has both high inflation and low economic growth.I don’t think stagflation is a separate entity that exists. Thus, I don’t think the term is very helpful. I want to be clear about what I’m not saying. I’m not saying that inflation isn’t a real thing. I’m also not…
The Ultimate Guide to Make Money Online
EconomicsHow to Double or Triple Your Income OverNightPhoto by David McBeeMaking money online is one of the most demanded topics in recent years. With so many sources and types of making money online, it can seem overwhelming when trying to figure out where to start.
Market Cycles at Work
Bitcoin and Ethereum UpdatesBTC Price Since 1st HalvingBitcoin is trading sideways.The world’s largest cryptocurrency by market cap remains in the $38,000–42,000 range. I’ve been saying for the last year that $42k is a critical level.This price range is both support on the downside and resistance on the upside. Traditional markets haven’t helped bolster bitcoin this month either.
When Will the Ethereum 2.0 Upgrade be Completed?
Ethereum has become widely popular for its unique capability to build applications atop the platform. It also applied blockchain technology for various applications beyond peer-to-peer payments. The network is currently gearing up for a huge transformation as the long-awaited Ethereum 2.0 upgrade nears launch.With the ever-growing list of dApps built on the Ethereum network, it had to contend with serious concerns regarding network congestion and gas fees. To improve the efficiency of the network and the ability to support more dApps, developers have planned to launch the Ethereum 2.0 upgrade. Let’s review what Ethereum 2.0 is and when it will fully launched.Ethereum 2.0 is an upgrade to the existing Ethereum network. It focuses on improving the scalability and security of the network by introducing several changes to the network’s infrastructure. One of the notable changes is switching from a Proof-of-Work consensus mechanism to a Proof-of-Stake consensus mechanism. The primary objectives of this upgrade are to enhance the speed, scalability, and efficiency of the Ethereum network. As a result, the Ethereum network can process more transactions per second and ease up network congestion issues along with reducing gas fees.However, Ethereum’s official website recently announced that it would stop referring to the upgrade as Ethereum 2.0. New users of Ethereum are assuming that Eth 1.0 comes first while 2.0 comes later, and there is also another misconception that Eth 1.0 ceases to exist after 2.0 goes live. To limit this confusion, the website announced that it would refer to Eth 1.0 as the ‘execution layer’ for handling transactions and execution, and Eth 2.0 as the ‘consensus layer’ for handling Proof-of-Stake consensus. The Eth 2.0 upgrade will be executed in multiple phases, which we discuss below.The Beacon Chain is the first phase of the Eth 2.0 upgrade. When it went live on December…
It’s Not Bitcoin vs Gold
Bitcoin, Gold, Silver, Oil, and CurrenciesBitcoin is often described as digital gold.It’s a fantastic two-word definition for bitcoin that most people can understand. Bitcoin is like gold in that it requires time, equipment, and energy to produce it.