Blockchain
Is Web3 like playing Minecraft?
Web3 puts major companies like Meta out of business and gives every user rights to develop the next big thing together. Decentralization and the combination of humans and machines will be the heart of the Web3 projects. There is a reason for users’ passive participation: We’re still busy trying to get the biggest part of the pie. But now, Web3 is in the pipeline. This is going to change radically. In the upcoming years, there’s going to be a shift from tech giants who are “the boss” to individuals who are taking the lead. When the development of Web3 is concluded and if you’re working within IT, blockchain or crypto space, you’re working on it too, we’re all going to be the boss. Data is going to be stored in a...
Electronic Music Industry Tops $6 Billion In 2021, Makes Key Strides In Web3: IMS Business Report
According to the newly published annual IMS Business Report 2022, electronic music continues to have an optimistic growth trajectory in a variety of key areas. As a sector, electronic music was valued at $6 billion in 2021, which is up 71% from 2020, but down 20% from 2019. Throughout the report, encouraging signs of the industry bouncing back in the aftermath of the pandemic continue to be apparent. Metrics including the number of festivals that book electronic artists and the quantity of search results for flights to Ibiza are up significantly year-over-year, but there’s still ground to cover when it comes to achieving the pre-pandemic levels of 2019. While the world was in a variable state of lockdown over the last two years, dance music made key strides in the digital arena. In 1...
Robinhood makes significant strides in crypto business in Q1 despite falling revenue
On April 28, discount-brokerage platform Robinhood published its financial results for the first quarter of 2022. Year-over-year, the firm’s net revenue declined by 43% to $299 million. Specifically, revenue from cryptocurrency trading fell by 39% to $54 million during the same period. This was partly due to a decrease in the interest in meme stocks as well as an ongoing cryptocurrency bear market that dominated much of the first three months of the year. However, despite a decrease in sales, the company’s net cumulative funded accounts rose by 27% year-over-year to 22.8 million. At the same time, total assets under custody increased 15% to $93.1 billion. Robinhood took several important steps in enhancing its crypto business. First, the firm rolled out crypto wallets to the ap...
Discover Candy Cult, a Festival-Focused NFT Collection Supporting Women In Music
Candy Cult is a Web3 community with a cause. In music industry professions across the board, women and marginalized groups continue to be underrepresented. With the proliferation of NFT technology, Candy Cult’s cofounders, Brooke and Nick, identified an opportunity to help move the needle. Candy Cult is a collection of 6,666 digital collectibles, randomly generated using a library of over 100 unique characteristics. The animated avatars are fashionably ready for festival season and not totally unlike the fans you’d find in the desert of Coachella, or the urban park grounds of Lollapalooza. Candy Cult is an acknowledgement that few things are sweeter than festival season. Following the public sale, Candy Cult is committed to supporting charitable organizations focused on the emp...
Ferrum Network integrates with Algorand to advance EVM and AVM interoperability
Ferrum’s integration with Algorand provides for seamless Ethereum Virtual Machine (EVM) and Algorand Virtual Machine (AVM) interoperability. The integration expands Ferrum’s staking-as-a-service solutions onto the Algorand blockchain. Ferrum also plans to launch a multi-chain token bridge for Algorand before the end of Q2, 2022. Ferrum Network, a cryptocurrency network that seeks to help existing blockchain networks address interoperability issues via a suite of multi-chain infrastructure solutions, has announced successful integration with the Algorand blockchain. With this integration, the blockchain interoperability platform’s staking-as-a-service solutions are now accessible to projects in the Algrorand ecosystem. The Ferrum Network announced this via a press release shared...
Report: Postmates founder Bastian Lehmann launches crypto startup
According to local news outlet FinanceFWD, German entrepreneur Bastian Lehmann is making a move into the crypto industry with the creation of a new startup called “TipTop Labs.” Although details surrounding the venture remain unknown, its website states the firm seeks to provide “consumer finance solutions for an emerging web.” On its careers page, it appears that TipTop Labs is hiring a blockchain engineer whose primary responsibilities include “Building protocol components that integrate across different blockchain systems,” and “leading the design and architecture of core protocols and tokens.” The firm has been registered in the State of Delaware since February. On his Linkedin page, Lehmann states that he is the current founde...
Binance recovers $5.8M in funds connected to Ronin bridge exploit
Via a Twitter post on Friday, Changpeng Zhao, CEO of Binance, said that the cryptocurrency exchange recovered $5.8 million spread over 86 accounts in digital assets moved to the exchange by Lazarus Group. Last month, the North Korean cyber-criminal group allegedly stole 173,600 Ether (ETH) and 25.5 million USD Coin (USDC), worth over $600 million at the time, belonging to Axie Infinity’s Ronin bridge. As of Friday, the wallet address associated with the Ronin has around $280 million in digital assets remaining. Blockchain forensics company Elliptic recently uncovered that the hackers have been sending the money to centralized exchanges and cryptocurrency trail-mixer decentralized application, or DApp, Tornado Cash. In addition, it appears the hackers also swapped the stolen USD...
How to use a Bitcoin ATM
Things required to use a Bitcoin ATM There are a few things you’ll need to prepare before you can get started on using a Bitcoin ATM: A crypto wallet The first thing you’ll need before using a Bitcoin ATM is a crypto wallet. More specifically, you’ll need a Bitcoin wallet. A crypto wallet is an app or a piece of software that allows you to store your crypto. In this case, you’ll need a wallet that specifically supports Bitcoin (BTC) — one that allows you to send and receive Bitcoin. It shouldn’t be a challenge to find a good one as Bitcoin is virtually the most popular cryptocurrency out there. There are many different types of wallets, and they all have their advantages and disadvantages. Related: Bitcoin wallets: A beginner’s guide to storing BTC A Bitc...
Kygo and Ryan Tedder Unite As Animated NFT Band, Bored Brothers
As electronic music artists continue to adopt NFTs to offer fans unique experiences, industry heavyweights and Bored Ape owners Kygo and Ryan Tedder are now making a collaborative foray into the Web3 space. Kygo and the OneRepublic frontman are longtime creative collaborators, writing on a number of tracks and even performing together on Coachella’s main stage in 2018. They’ve now joined forces to launch Bored Brothers, an animated NFT band featuring their Bored Ape likenesses. For those unfamiliar, the Bored Ape Yacht Club (BAYC) is the world’s preeminent collection of digital collectibles, currently selling for over $300,000 each. The NFT collection counts Madonna, Mark Cuban, Steve Aoki, Justin Bieber and Paris Hilton—among many others—as token holders and ...
How Web 3.0 apps must adapt to become next-gen of tech, explained
Unlike Web 2.0 applications, offerings built on Web 3.0 are enabling users with true data ownership. Web 2.0 brought about a major change to how the world views the internet, introducing online platforms like TikTok, Twitter, Meta (former Facebook) and Instagram, among others. Although valuable in the number of opportunities made available, Web 2.0 has brought concerns about data ownership. With users spending more time online, their data, including what they like, the content they create and other details about themselves, are being shared with big tech companies, many of which have been caught in data scandals in the past and paid their way out of it. Web 3.0 addresses these concerns by presenting a new reality for application usage. Leveraging verifiable, trustless, self-governing, perm...
Why decentralized telecommunications is necessary to make Web3 a reality
The world knows the public internet as the best transport network and the backbone of their daily routines. However, if one looks closely, the internet is far from perfect, with many considering the network untrusted and its usage synonymous with poor reliability and performance issues. Although these faults were once overlooked, the impending Web3 revolution has led many to recognize just how far the current internet foundation is from supporting the increased usage and performance requirements that come with the metaverse, decentralized finance (DeFi) and other blockchain-technology use cases. Soon, every major company, industry and consumer experience will be shaped by the metaverse and accompanying technologies. One of the biggest gaps still yet to be filled is a network that can...
Crypto is going mainstream: Here’s how the future founders will build on it
Crypto has long been criticized for its lack of inherent value. However, the shift toward contactless transactions amid the pandemic has emphasized the value of digital currencies and blockchain technology in the modern world. For this reason, merchants have been slow to adopt cryptocurrencies as a form of payment. As it gains widespread usage, however, we can expect to see more businesses accepting crypto in the future. The global pandemic has changed the way a lot of us do business. The shift away from cash and face-to-face transactions toward digital cashless ones has introduced many people to the convenience of paying digitally. So, it’s no surprise that crypto is starting to gain traction as a viable payment option — one that will only continue to evolve. While sti...
