Wednesday, September 28, 2022

STEPN (GMT) Holds Gains While Many Top Coins Taste Declines

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The GMT’s price has been in a strong upward trend in the past seven days despite other major coins nosediving. It experienced a 13% 7-day growth and a 24-hour gain of 0.53% this morning. Meanwhile, several top coins like FEI USD, Basic Attention Token (BAT), and Ravencoin have seen their prices plummet badly.

STEPN (GMT) remains a major move-to-earn crypto project in the market despite fierce competition from the likes of SWEATCOIN. With a market cap of over $400 million, GMT is the 87th largest cryptocurrency by market capitalization on Coinmarketcap.

STEPN Pumps Thanks To GigaSpace Partnership The coin’s price has risen significantly over the past few days after it announced its partnership with GigaSpace metaverse. The partnership will see both companies building a STEPN virtual city for community members.

STEPN users can buy STEPN items, organize community events, and engage with others in the metaverse. It’ll have a sports theme and have buildings and amenities, including stadiums, shopping malls, and communal space.

After the announcement on GigaSpace’s official Twitter handle, the coin price doubled within 24 hours. This was followed by a steady weekly rise from $0.59 on the 21st to $0.73 yesterday. Meanwhile, other top coins were all down between -5% and -10%.

Surviving Amidst Competitors And General Bearish Sentiments STEPN (GMT) has enjoyed a good run since its inception in 2021. Over 4.72 million people have downloaded the app, attracting $5 million in financing and one million active daily users. But in recent weeks, the GMT price exhibited a significant negative trend as Stepn activity showed symptoms of slowing. Sweatcoin’s rise in popularity coincided with its decline.

On September 13th, Sweatcoin released its own cryptocurrency, SWEAT. CoinMarketCap reported that the price of SWEAT increased by over 30% in the 24 hours following the launch. As a result, it’s likely that the introduction triggered the GMT price struggle as investors rushed to purchase SWEAT.

GMT had also struggled alongside the entire crypto market. On April 29, 2022, it climbed to an all-time high of $3.80. But by the middle of June 2022, it dropped to its all-time low of$0.58, plummeting even more sharply than GST, its sister token.

GMT’s price is currently trading around $0.6701. | Source: GMTUSD price chart from TradingView.com GMT Price Predictions Despite these bearish sentiments, GMT has managed to hold onto its position this week. It closed with a 10% increase two days back at $0.684746.

The trading volume over the last 24 hours totaled $265,743,486, with a current price of $0.6719. STEPN lost 0.39% in the past day, ranking #87 on CoinMarketCap with a $400,997,811 market cap. There are a total of 600,000,000 GMT coins in circulation and a maximum of 6,000,000,000 GMT coins available.

STEPN may find support at $0.5964 after bouncing to $0.8070, which is now its resistance. If the GMT price manages a strong breach over $0.8070, it might go to $0.9215 or $1.1170.

Featured image from Pixabay and chart from TradingView.com

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What happens to Bitcoin in an event of Internet cables being shutdown?

I read this comment online and genuinely I don't have a clear answer, any thoughts?

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When they turned on money printer due to coof back in March 2020, I said inflation. When the printer was still on a few months later I said oh theyre gonna make a war. After inflation war always follows its an easy method to destroy demand and get away with it.Bitcoin will stop next week due to War between NATO vs Russia officially being declared. Fiber cables and all sats are first to go.Internet will be gone, back to isdn speeds.

---

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https://preview.redd.it/k8r0jq4zsoq91.png?width=1876&format=png&auto=webp&s=eb91b197cf6288a53757a7b29d4f3d91d2e7be4d

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Biswap is a decentralized exchange (DEX) that allows users to securely trade a huge variety of BEP-20 tokens quickly and cheaply, without relying on centralized services or losing control over their private keys. All trades on Biswap are automatically executed via smart contracts - completely eliminating centralized intermediary risks.

https://twitter.com/Biswap_Dex/status/1575110610794053634

Biswap utilizes many of its unique features to provide an excellent trading experience to end users. On the one hand, it attributes the benefit of fast and fast delivery rates - On the positive hand, it is fast, cheap and runs on Blockchain.

Litecoin is seen by many as the digital silver of the blockchain era. LTC was created to fill the gap that bitcoin wasn't filling, that of digital money, and despite failing to remain as one of the top 10 assets, Litecoin continues to draw the attention of investors and businesses that accept cryptocurrencies as a form of of payment. After all, LTC has stood the test of time and managed to gain the trust of the market.

Litecoin is decentralized. Thus, it does not have an institution or government commanding its operation. One of the great highlights of the crypto asset is having a more frequent generation of blocks than Bitcoin. This makes the altcoin not need software modification in the future to stay scalable,

It is important to point out that Litecoin also goes through the halving process. In short, this event causes less amount of cryptocurrency to hit the market. In this way, every four years, the compensation miners receive for mining LTC drops by half, making the crypto asset more attractive to long-term investors.

So far the operation is very similar to that of bitcoin, but some details need to be pointed out. These details show the difference between the two cryptocurrencies.

Firstly, the maximum amount of coins is different between BTC and LTC. In the case of the cryptocurrency created by Satoshi Nakamoto, the maximum supply is 21 million units and Litecoin's is 84 million.

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What happens to Bitcoin in an event of Internet cables being shutdown? (x-post from /r/Bitcoin)

https://www.reddit.com/r/Bitcoin/comments/xqsbfk/what_happens_to_bitcoin_in_an_event_of_internet/

Black market economy without cash?

So, it's Friday night and all the 20 somethings are meeting their raw milk plug to drink some tasty raw milk before the club.

There's no cash any longer. Bad for the uh...global whatever supremacy something. All you have are JP morgan bucks on your phone app and all of your purchases are subject to warrantless wiretap. Bitcoin is traceable and monero (I believe) doesn't actually work on a phone because you need to basically host your own node or its not really anon.

Are people going to switch to constitutional currency and gold in this event? serious speculation only

Why Single-Digit Gains Is The Best Case Scenario For Bitcoin This September

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Bitcoin gains for the month of September have been less than encouraging for investors. The month has historically been bearish for the digital asset, which makes it no surprise when multiple dips had begun to rock it. Now, as the month draws to a close, it continues to follow the trend for most of the month. This means that it is likely not to be any significant recovery, and single-digit gains may be the best it can do.

September Proves To Be Deadly The month of September has not been kind to the digital assets that currently play in the crypto market. From the beginning of the month to the present day, the crypto market has been wracked by dips and crashes, which has left most assets barely holding their heads above others.

For Bitcoin, the effects of the September trend have been quite pronounced. Data shows that for the entirety of the month, the digital asset has only seen low single-digit gains. At this point, the gains of the cryptocurrency sit at 1%, but with the price continuing to succumb to the bear trend, it is possible that bitcoin may dip below this level.

BTC suffers in September | Source: Arcane ResearchBitcoin is also not the only cryptocurrency to suffer such dreary fates. Other indexes, such as the Large and Small Cap Indexes, have all come out even worse. The Small Cap index was slightly below bitcoin in the fact that it was down -1% for the month of September, while the Large Cap Index had seen losses of -2%.

The Mid Cap Index was the only one to see some form of encouraging return. It did about 300% better than bitcoin, with gains of 4% this month, making it the best performer so far.

Bitcoin Doesn’t Get Better September has been historically bearish, and the events that took place this month did nothing but drive that point further home. With the CPI data release and the FOMC meeting ending with another hike in interest rates, the short-term future does not look too bright for bitcoin.

BTC remains volatile | Source: BTCUSD on TradingView.comThe present single-digit gains that the digital asset is seeing have been much more than anticipated. Even with this, the likelihood that the price of the digital asset would close in the red remains quite high, especially given the sell-offs that have been rocking the market.

Presently, bitcoin is barely holding above $19,000 but is seeing significant resistance at this point. The BTC dominance over the past week has been up, which could lead to a rise in the value. However, even with this, it is unlikely that bitcoin finishes the month with anything more than single-digit gains, if at all.

Featured image from Analytics Insight, charts from Arcane Research and TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

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Peer-to-peer bitcoin transactions are becoming extremely popular among B2-B and B2C enterprises because of these innovative working techniques. Having a P2P system can work wonderfully for businesses as the majority of people now use blockchain-based crypto wallets to complete speedy transactions. Because it is built on distributed ledger technology, nobody can alter or falsify the current data, user data, or ongoing transactions. It is a result of data verification.

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What Has Changed After the Ethereum Merge?

Source: Coincodex

The Ethereum Merge was the most anticipated event in the crypto and blockchain space since the last Bitcoin halving. On September 15, 2022, the Merge finally came to fruition after several years of work and coordination by Ethereum developers.

Almost two weeks after the Merge, it’s only appropriate to look at Ethereum and see what has changed on the network following the Merge and if there are any lessons to draw from this.

A big reduction in energy consumption

The first impact of the Merge is the drastic reduction in Ethereum energy consumption. Days before the Merge, Ethereum had a hashrate of over 900,000 Gh/s. This shows just how significant its energy usage was, and supporters of the Merge were quick to point out how this would change. In fact, Ethereum researcher Justin Drake estimates that the Merge reduced global energy usage by 0.2%. Supporters have called it one of the biggest decarbonization events in history.

This is not surprising as the Merge reduced the Ethereum network’s energy consumption by more than 99%. However, while Ethereum significantly reduced its own carbon footprint, the crypto space as a whole still consumes a massive amount of energy. In addition, some of the miners that were forced to leave Ethereum moved to other Proof-of-Work networks such as Ethereum Classic, Ergo, and Ravencoin. While these networks can’t accommodate all the miners that were forced off Ethereum, the ones that move there continue to consume energy.

Centralization and censorship concerns

One of the major concerns of those against the Merge was that Ethereum would become more centralized and vulnerable to censorship post-Merge. This fear is understandable. Just five entities control over 65% of Ethereum validators. Of this number, 3 — Coinbase, Binance, and Kraken — are centralized exchanges. Lido, which has the largest stake, is a decentralized staking pool, but like two of the operators — Kraken and Coinbase — it could be subject to the control of US regulators.

In the face of the recent Tornado Cash ban and the US Securities and Exchange Commission’s attempts to assume jurisdiction over Ethereum, it is understandable why such centralization of validators could be a cause for concern.

The effects of that centralization are already evident in the major block producers. After the first 1000 blocks on Ethereum Merge, Gnosis chain founder Martin Köppelmann shared data showing that Lido and Coinbase alone were responsible for creating 420 of those blocks. Santiment also stated that its Post Merge Inflation dashboard shows that 46.15% of the POS nodes storing data, processing transactions, and adding new blocks are tied to just two addresses. But this is likely due to flash bot relays.

Regardless of this centralization in validation, Ethereum stakeholders and even staking operators such as Coinbase believe the network remains censorship-resistant at the base level. Time will tell how correct this view is.

A slowdown in ETH supply growth

One of the most notable aspects of the Ethereum merge is the reduction in the issuance rate. The drop in how many ETH are being issued means that the Ethereum supply is increasing at a much slower pace. Since the Merge, the Ethereum supply has grown by 8,096.61 ETH, according to data from ultrasound.money. If the network were still using PoW, it would have increased by an estimated 157,663.46 ETH.

This is because a much smaller amount of ETH is required to reward validators than what was required to reward miners. For example, since Proof-of-Stake became active in December 2020, it has only issued 0.8 million tokens as a reward for validators. By comparison, Proof-of-Work issued 49.8 million ETH to miners over eight years.

However, ETH is yet to become deflationary. Over 7,000 Ethereum has been burnt in the last seven days, but that only offset issuance by about 61%. The network will be deflationary when more tokens are being burned than issued. For this to happen, the gas fees on Ethereum will have to grow significantly, which means network activity will have to rise. That’s unlikely to happen in the current bear market.

The Ethereum price has dropped significantly

There was a lot of speculation before the Merge about how it would affect the price of ETH. Most of the predictions pointed to the price increasing post-Merge. But that has not happened yet. Since the Merge, the ETH price has dropped by about 20%. However, a large portion of this decline could be attributed to the overall bearish trend in the cryptocurrency market.

Read the full article: https://coincodex.com/article/19574/what-has-changed-after-the-ethereum-merge/

Blockchain for inclusive and sustainable development, reality or fantasy?

Under the title, Blockchain for inclusive and sustainable development, reality or fantasy?, The World Investment Forum, held recently at the Palais des Nations in Geneva (Switzerland), offered for the tenth time a multi-stakeholder platform to facilitate dialogue and the search for solutions to the main global investment and development challenges.

For the first time, this body invited world leaders in blockchain technology, including businessmen, regulators, academics and senior government officials.

The participants in the event highlighted how new technologies have been a great discovery for developing countries. For example, the use of mobile phones to help fight poverty. In this sense, all the participants underlined the importance of the application of blockchain for the third sector.

Binance and its charitable foundation

The blockchain charitable foundation Binance (BCF) announced during the Forum the launch of a platform to make donations. This foundation uses the blockchain to offer complete transparency and efficiency, which allows it to ensure that one hundred percent of the donations reach their beneficiaries, according to Helen Hai, head of the Binance foundation.

This difficulty in accessing financial markets or financing represents a major barrier to development. In a globalized society, there are very few economies that can satisfy all their needs on their own.

In some way, we are all participants in the export and import activity, which means that if your local currency is not accepted outside your community you live in economic isolation.

To respond to the lack of money and combat poverty, Galia Benartzi, co-founder of Bancor , highlighted that thanks to blockchain and smart contracts, her company had managed to introduce the concept of liquid community currencies.

During his speech, he explained that the so-called smart contracts allow them to program the tokens and customize their behavior in an unprecedented way.

local trade

Bancor is defined as a decentralized liquidity network to encourage local commerce. This entity offers communities the possibility of creating their own liquid community currencies to be able to exchange goods and services. By integrating the ability to be converted by other community currencies that are part of the network, the potential for economic activity and direct access to money is expanded.

The company, which has developed a pilot project in Kenya , is seeing that most of the goods and services that are exchanged are food products, which is helping to alleviate hunger.

Another interesting issue detected by community care workers is that women are the best empowered and the ones who use and circulate these liquid community currencies the most.

All these practices are generating a formidable impact on gender equality, since traditionally it was the man who left the community to earn the national currency, hoping to contribute money to the family economy.

With the community coins, the women, in addition to creating economic well-being, circulate the coins within their community.

Revolutionize the supply chain

World Investment Forum participants also highlighted the potential of blockchain to revolutionize supply chain management, increasing traceability, security and efficiency. In the case of food supply, the blockchain allows small producers to access the digital economy for the first time in history.

In this sense, Sander de Jong, director general of Fairfood International, shared his vision on the future of the food system and called for responsibility for small farmers.

Regarding the risks that the adoption of blockchain may entail from an environmental and social point of view, in the Forum some contradictory opinions were collected in this regard.

Thus, entrepreneurship, collective leadership and examples of successful projects were identified as key elements to promote resilience and social responsibility.

Partnerships with the Climate Coalition

Alliances such as the Climate Chain Coalition, created by the UN, or the Blockchain Observatory and Forum created by the EU, reinforce the commitment with stakeholders to use the blockchain to achieve the Sustainable Development goals.

As for the carbon footprint, being one of the main problems associated with blockchain technology, it was not an obstacle for many due to the rapid evolution of technology and the development of more efficient solutions, such as the proof-of-protocol. -stake or proof of participation.

You may also be interested: RSK looks for its place in decentralized finance from the Hispanic shore of Bitcoin

The potential of blockchain to increase transparency, mobilize resources and promote financial inclusion was also highlighted.

In this sense, it was highlighted that we live in a world in which there is asymmetric information and where very few really understand the financing mechanisms.

engage people

The approach of the participants in the Forum is that if developing countries are not involved in the design of blockchain solutions, there is a risk of creating another form of isolation that further separates people who have connectivity. and opportunities with those who do not have them.

The speakers also made it clear that, in general, conversations about the use of new technologies are governed by fear, uncertainty and the media. Regarding the media, they said that they are operated by the same profit structure that the technology itself is challenging.

Finally, at the “Blockchain for inclusive and sustainable development” conference, the need to become aware and keep an open mind was raised in order to fully unlock the growth potential of blockchain technology, maximizing positive impacts and minimizing adverse effects.

Introduction of Bitmain Antminer KA3

The most anticipated machine by miners in September 2022 is undoubtedly the Bitmain Antminer KA3. It empowers the KADENA ecosystem with super computing power and energy efficiency ratio. The computing power of 166Th is significantly higher than that of the current models on the market. improvement. Today, X-ON MINING will introduce the Antminer KA3 to everyone, so that everyone can understand this model. Antminer KA3 for sale，contact our team to get Antminer KA3 price.

Specifications of Bitmain Antminer KA3

Bitmain Antminer KA3(166Th) comes from Bitmain mining Kadena algorithm, the maximum hash rate is 166Th/s, and the power consumption is 3154W. The appearance is similar to the Antminer E9. The front-end air-cooled radiator is all black. The whole body is wrapped in a solid chassis to ensure its safety during use. The internal parts are fixed to ensure that the internal parts are caused by transportation problems during transportation. displacement and damage. The mining income statement is attached below.

https://preview.redd.it/kuqyno7n9kq91.png?width=589&format=png&auto=webp&s=698325a135ad9485e1e7817d9b03f41a27866a19

ManufacturerBitmainModelAntminer KA3 (166Th)ReleaseSeptember 2022Size195 x 290 x 430mmWeight16100gNoise level80dbFan(s)4Power3154WVoltage200-240VInterfaceEthernetTemperature5 - 40 °CHumidity10 - 90 %

On September 13, Bitmain, the world's leading blockchain server manufacturer, held an online launch of Antminer KA3, sharing their support and confidence in the KADENA ecosystem. This online conference was co-organized by the world's leading cryptocurrency platform ANTPOOL and the world's first Bitcoin computing power standardized cloud mining platform HASHFROG. The R&D team from KADENA and the community representatives from KADENA MINING CLUB also participated in this event. activities, and all shared their information on the KADENA ecosystem and their expectations for future development.

Bitmain Antminer KA3 debuted at the press conference. Its computing power can reach 166T. Compared with the current market computing power, it has been greatly improved. Antminer KA3 redefines the industry standard with an energy efficiency ratio of 19J/T. Leading the energy efficiency index of mining machines into a new era with energy saving and performance optimization.

In addition, Antminer KA3 also incorporates the latest design of Bitmain's flagship product S19 series, and is equipped with the latest air-cooled heat dissipation technology, so that the operation of the mining machine under the Blake2S algorithm can be protected at the top level, and its service life is virtually extended. And Antminer KA3 adopts standard chassis size design, which is convenient for mine layout. At present, the mining machine will be sold on the HASHFROG platform in the form of cloud computing power in the first stage.

Lin Han, Marketing Director of Bitmain, announced at the press conference that, as a long-time supporter of PoW, Bitmain is committed to serving the KADENA ecosystem, and will donate 3 Antminer KA3 mining machines to the KADENA team for technology research and development, and to all KADENA MINING CLUB owners. Community members donated 1 Antminer KA3 to support the ecological development of KADENA. Lin Han also said that Bitmain will continue to support the PoW project and the long-term development of the PoW ecosystem, making great contributions to the development of the PoW ecosystem.

The cooperation between BITMAIN, HASHFROG and ANTPOOL on the KADENA project marks the integration of mining machines, mining pools, and mining resources, deepens the ecological cooperation between mining machines and the energy industry, and provides a solid foundation for long-term investment by cryptocurrency enthusiasts. Assure. Bitmain is the world's leading blockchain server manufacturer. Its brand ANTMINER MINER has long maintained a leading global market share and technology position, serving customers in more than 100 countries and regions.

At the same time, X-ON MINING is one of the largest Antminer suppliers in China, improving high-quality mining machine products and good services, and cooperating with customers in hundreds of countries. They have won the recognition of many customers with their good reputation. In the future, more customers will join in and work with them to make progress together in the cryptocurrency mining industry.

https://preview.redd.it/95k3i77r9kq91.png?width=560&format=png&auto=webp&s=d1c1c51bfd692c053f5fc09d32d597144c9d4fc3