The Graph (GRT) is an ERC-20 utility token on The Graph Network, which is the indexing service for the blockchain (starting with Ethereum) and IPFS. This project was launched in 2020 by a team with some serious technical background and has already been called “Google for blockchain.”Blockchain is, at its core, a database. However, for all its advantages over most of the traditional databases — like immutability and decentralization — it lacks one of their most important features: the way to easily and quickly retrieve the data stored inside. This is especially glaring if a query requires a combination of methods. Enter The Graph — a decentralized protocol that solves this problem by utilizing the subgraphs — a kind of an open API that can be created by any developer to retrieve the data needed for their dApp. The Graph Nodes then process, index, store, and serve this data back to the users.There are three types of roles in the network, besides developers: Indexers, who index subgraphs; Delegators, who delegate their coins to Indexers; and Curators, who signal which subgraph should be indexed. All of them must stake their GRT tokens to secure the network. GRT also acts as a reward currency.The Graph token (GRT) has started trading in December 2020 on a somewhat uncertain note, its price rising to ~$0.75 in its first days on the market but then dipping under $0.3 by early January. GRT’s utility in the DeFi space didn’t go unnoticed, though, and The Graph began trending upwards together with the whole sphere. In early February GRT price soared to $2.88, which is its all-time high. This surge can likely be attributed to The Graph’s rising public profile, including publications in large media outlets like Forbes and adding support for some well-known blockchains. After this, however,…
UMA Price Prediction
UMA is a governance token of the UMA Project — a protocol enabling anyone to create synthetic tokens representing any real-world assets. UMA, which stands for Universal Market Access, was founded in 2018 by Goldman Sachs alumni and boasts an impressive list of backers, including Bain Capital Ventures, Coinbase Ventures, and others.There are two key mechanics employed by the project — Priceless financial contracts and the Oracle system. Priceless contracts are used to mint synthetic tokens by locking collateral into a smart contract. UMA’s innovative approach is that those contracts do not require constant monitoring of the underlying assets’ prices; instead, it’s the token holders’ responsibility to make sure that their synthetic assets don’t become undercollateralized. If they do, another actor in the network — a liquidator — comes into play and liquidates the position. Liquidators are kept in check by disputers: if liquidation is made in a bad faith, they open a dispute. The Oracle system is made exactly for these cases: it reports the actual price of the asset in question, which decides the outcome of the dispute. Throughout this whole process, the honest parties are rewarded and the dishonest ones are penalized. UMA tokens are used in the dispute system to vote for price requests. The second role of the token is voting on the general improvements of the protocol.UMA token trading started in late spring of 2020 and failed to make a splash at first, its price hanging around $1.3 — $1.5 for a few months. With the DeFi boom in the fall of the same year, though, UMA’s price shot up, reaching $24.99 in early September. As the frenzy died down and the DeFi investors made hefty profits selling their tokens, however, UMA became more moderate in price, trading sideways between ~$7 and ~$11 until…
Coca-Cola launches NFT Collection!
Cult brand Coca-Cola has come up with something extraordinary for Friendship Day on July 30. The company is auctioning off the first NFT collection, which was designed in collaboration with digital designer Tafi. But this is far from all. In addition to the Coca-Cola NFT, the Friendship Box also contains other great things. If you would like to bid for one of these boxes, you will find the link in the article.
Investing for Beginners
Learn the Basics In MinutesOver the past few decades, returns for investing have been way better than savings in a bank account. So logically, investing is a popular choice right now. In 2020 and 2021, tens of millions of people invested for the first time. Many have had a little or a lot of success, but many others have also lost money.
Blockchain Technology Is Not the Need of the Future
Blockchain technology is a ledger of transactions that is distributed across the entire network and records the provenance of digital assets. It is immutable and hence, can solve many problems. In simple terms, it is a database where all participants can write but cannot delete or alter it.Getty ImagesWe are now very much habitual of hearing that blockchain is a revolution for the…
Project Rundown Interview with NapBots
Now, could you tell us about NapBots accomplishments so far, and in the history of the project, please tell us what you are most proud of.Creating a proprietary library of strategies that performs overtime is one of the proudest accomplishments we have at napbots. Most trading bot services are just marketplaces and do not dispose of the strategies created by the same team available to the public.The team keeps creating and evolving trading strategies, firmly believing in their conviction “if it’s not already” on becoming the best trading bot available in the crypto market.Now, give us a quick rundown of the future of NapBots. For example, what new things are you seeking to bring to life and what will it mean for the overall project?We foresee NapBots to convert itself as a Trading Lab where we welcome the best strategies creators (bypassing the highest due diligence & standards of course) and where our team constantly evolve and create new ones, making it the best strategy provider of the crypto market.Tell us about your team. Who’re the people behind the screens?Which partnerships have NapBots engaged so far, and which ones are the most impactful?The most recent one was with Bitmex exchange, one of the most used and reliable crypto exchanges, making us an official partner. However, we have accomplished other important partnerships with big exchanges such as Bitpanda exchange, adding us as automated trading solutions provider.
UpBots Review 2021: Everybody Wins, or Nobody Does
As opposed to creating an exchange for itself, UpBots built a dashboard that serves as a medium to integrate every major exchange, allowing traders to trade with the best fees and spreads available. In addition, UpBots offer a range of tools such as signal provider, bots, charting tools, that are instantly applicable to every trading platform connected using APIs. Having said that, this section contains some UpBots’ interesting features that will definitely lay hold of your attention.The user interface is one of the user-friendliest ever explored. It is easy to navigate, interactive, sleek, and features every features you will need as a trader. It has quick access buttons that make navigation more approachable. As a user, you can easily complete tasks such as viewing algorithms, checking wallets and balances, etc. The dashboard also serves as the homepage, where you can carry out several activities directly. UpBots is on the 2nd iteration of the interface and for the full commercial launch in the near future, they have hired a super star UX designer who has worked on projects such as Paypal.This is arguably the most exciting feature on UpBots. Using these bots, you can easily streamline your trading strategies as a trader. Not only are these bots easy to activate, but also when activated, all a trader needs to do is sit back and watch the bots trade their assets for them. Traders just need to select the exchange they want to trade, as well as the amount of capital on each bot. They will also need to allocate UBXT to the bot for the payment of Performance Fees (the commission payable on successful trades). On setting these parameters, the bot handles the rest.What’s even more intriguing is that UpBots is incorporating a simple guided process that will enable users to…
How Audit and KYC Projects Build Trust in DeFi Industry
The Decentralized Finance world is one of the most outstanding financial revolutions of the 21st century. Generally, with DeFi, everyone globally can take charge of their finances and investments while benefiting from other services like lending, gaming, etc.However, the trust in DeFi is still lagging; thus, the adoption is also lagging. The primary reason for the lagging confidence in DeFi has always been about its bad. Generally, as a product of the crypto world, DeFi is always blamed for the issues associated with cryptocurrency. Since some KOLs still view crypto as a scam, DeFi suffers the same fate.Fortunately, there are ways to help bolster the trust in DeFi, including audits and KYC procedures.How Audit and KYC strengthen DeFi ProjectsHow do KYC and Audit projects strengthen confidence in the DeFi world? Here is a short guide.Audit Proves That a DeFi Project is GenuineOne of the significant ways that KYC and Audits bolster trust in DeFi is by proving that a project is genuine. Scams connected to the crypto world have been soaring, with investors losing fortunes to fake schemes. However, how do these scams happen?Some developers may introduce a project with the primary intention of stealing from unknowing investors. Generally, these kinds of projects promise to offer high yields and could easily attract investors. Due to such scams, some investors could easily lose trust in DeFi.However, by using the KYC and Audit procedures, investors will now start trusting DeFi-related projects. The auditor can know if a particular project is genuine or not. In some cases, the auditor may do deep research, including looking at the following;Project webpageCoin Minting mechanismTeam behind projectEconomic modelBy doing thorough analytics of the above mentioned, the auditor can assure investors that the new DeFi project is genuine.2. Real TestsAnother reason why audit and KYC platforms contribute to…
Top Exchanges for Beginners to Try Out in 2021
The decentralized economy continues to expand at a record pace as new users join the digital revolution daily. Today, the crypto market serves a vital role in enabling users to gain control over their financial future. However, one of the trickiest parts of joining the crypto market is finding a reliable and secure exchange to trade on.Not every exchange is created equal. History has shown that going with a less than reputable exchange can have dire consequences like lost funds. Luckily, you don’t need to pull your hair out in frustration searching the thousands of options available today. Here are the top exchanges for beginners to try out in 2021.BitrueBitrue makes the top of this list due to its forward-thinking approach to the market. This exchange offers users a variety of features and services not found on other platforms. The network operates as a decentralized ecosystem. Users can easily find all of their favorite cryptocurrencies and buy, sell, or trade with ease.Bitrue has seen considerable adoption since its launch due to a variety of factors. Primarily, the network is easy for new users to navigate. Also, the exchange has some of the lowest fees at around 0.08% per transaction on average. Additionally, you can load your account with a huge variety of fiat currencies including USD, EUR, GBP, HKD, SGD, AUD, CHF, and MXN. Notably, there is never a wire transfer fee for this service.One of Bitrue’s best features is its loan system, where users can pledge and borrow a range of different crypto coins. The exchange also introduces some advanced staking features via its Power Piggy feature.MEXCMEXC was built from the ground up to simplify crypto trading. The platform provides real-time crypto pricing and a host of other valuable features to users. This exchange provides a familiar experience to…
Band Protocol Price Prediction
Band Protocol (BAND) is a token powering the eponymous network, built on an independent blockchain (BandChain) to provide blockchain-agnostic oracle services. Band Protocol was founded in 2017, and the BAND token became available for public trading in September 2019 through an IEO.Band Protocol is designed to solve the same problem as all the blockchain oracles, which is the lack of access to the real-world data on the blockchain. There’s a growing demand for this kind of data following the expansion of the DeFi space, as well as the popularity of dApps in general, since staying inside the closed system of blockchain severely limits their use cases. Using oracles to bring this data to the chain carries its own problems, though: as a “middleman” layer, an oracle may slow down dApps using it or even become a point of security failure. Band Protocol overcomes speed and scalability issues by using its own blockchain to handle data requests in combination with Cosmos-developed Inter-Blockchain Communication Protocol (IBC), which brings the results to any blockchain for further use. The network is secured by a Byzantine fault tolerance (BFT) mechanism and Delegated Proof-of-Stake (dPoS) consensus protocol as an additional safety boost. Users must stake their BAND tokens to become validators to earn rewards, or they may delegate their tokens to an existing validator. The token is also used for governance.In the first months following its launch in September 2019, the BAND token wasn’t making a big splash on the market, being traded below $0.5 until April 2020. The price then started climbing very slowly, by June getting to around $1.5. In July, as the DeFi boom started gathering momentum, it jumped to ~$3.5-$4, but the Band Protocol token’s real breakthrough happened in August after its Coinbase listing when the price soared above $15. In the…