Crypto News

Why TRON Has Seen a 45% Hike in Total Value Locked (TVL)

According to Wu Blockchain, the TRON network has seen a hike in its total value locked (TVL) over the past 30-days. This increase seems to be related to the launch of this network’s native algorithmic stablecoin USDD. Related Reading | Tether CTO Says, USDT-Dollar Remains Strong Amid Stablecoin Crises As reported by NewsBTC a month ago, TRON’s founder Justin Sun announced the deployment of USDD for May 5, 2022. This digital asset operates similarly to LUNA CLASSIC network’s Anchor Protocol. USDD allows users to earn a 30% annual percentage yield (APY) for staking it on the JustLend platform. TRON launched its own algo stablecoin to capitalize on the popularity of this product. However, May has seen a massive LUNA-UST (Terra Classic’s algo stablecoin) which has impacted the crypto industry. The crash in the price of LUNA and the UST deppeged appears to have little impact on TRON. Data from DeFi Llama supports the increase in TVL. This number stands at $6 billion with a 14% increase in the past week alone. TRON’s TVL has grown beyond that of Polygon, Avalanche, Solana, and Fantom. If the trend continues, the metric could surpass the TVL on Binance Smart Chain which currently sits at almost $9 billion. Further data provided by DeFi Llama indicates JustLend is the protocol with the percentage of TVL. The platform records $2.8 billion in TVL followed by JustStables’s $1.4 billion. In a short period of time, JustLend and the algo stablecoin seem to have taken over the TRON ecosystem pushing it to the top 3 in TVL across the DeFi sector. This seems to suggest that algo stablecoin still are very popular in the crypto space, despite the events on the Terra Classic network. Can TRON’s USDD Survive After The Events On Terra Classic Last week, a pseudonym analyst looked into USDD and the TRON ecosystem to determine if the new digital asset can withstand current market conditions. The analyst pointed at the collapse in the old Terra Classic network and its implications for all-algo stablecoins. However, the analyst believes USDD and its network are in a different state. Right now, the TRON-based algo stablecoin, the analyst claims, is mainly supported by insiders. Therefore, there could be room for retail and other investor classes to adopt USDD. This could benefit TRX and its ecosystem, as it seems to have recently. The analyst said: (USDD) It is in its fairly early stages, with only insiders in. There is room for latecomers and eventually even retail to enter before it carries the same risks as Luna. Timing is everything in musical chairs. USDD mcap is at only 2.5% of UST’s peak. In addition, the analyst believes that USDD doesn’t operate exactly like UST but “is actually more like Maker” with a different collateralization mechanism but with the buying pressure for TRX. The altcoin has been performing well compared to other assets. Related Reading | TRON Joins Stablecoin Wars Will Launch USDD With 30% APY, Here Is When TRX’s trades at $0.08 with sideways movement in 24-hours. Despite the downside price action in larger cryptocurrencies, TRX has been able to rally on the back of its algo stablecoin.

Altcoins

Top Trader Says One Under-the-Radar Altcoin Set To Emerge As Winner of Terra (LUNA) Collapse

A closely tracked trader is naming one altcoin that he says can come out as the big winner following the crumbling of Terra (LUNA) and its algorithmic stablecoin TerraUSD (UST). Pseudonymous trader Light tells his 160,600 Twitter followers that Tron (TRX) and its algorithmic stablecoin Decentralized USD (USDD) are poised to fill the vacuum left […]

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Crypto News

How Blockchain Technology Expands The Education Frontiers

From digital tokens to play-to-earn games, blockchain technology has disrupted several industries. Today, it is entering the education sector. From cross-border payments to synthetic assets, distributed blockchain ledgers and their tokenization utilities have created powerful financial products that are globally accessible. While blockchain is democratizing finance, its usability doesn’t have to be limited to cryptocurrencies. Another industry that carries equal weightage as finance and needs an immediate restructuring is education. The current system doesn’t cater to all students equitably. Some have more access to higher-level education, while others struggle to get the bare minimum, which was primarily observed during the pandemic. So to make sure such disparity never occurs again and all learners have access to top-notch education, there has to be a solution fundamentally changing the education system from the inside out, and many believe blockchain technology powering the metaverse is the way to go. Blockchains Can Make Structural Changes to Education The distributed ledger technology can significantly impact how teachers and students interact and how academic documentation is done. Educators can program lessons and curriculums onto a blockchain by leveraging smart contracts. Furthermore, smart contracts can distribute academic credits to students upon completing all course modules. Aside from automation, blockchains excel at rights management and privacy protection. As a result, researchers attempting to publish their papers can retain full ownership of their work while avoiding traditional publication procedures. For educational institutions, blockchains reduce the burden of file storage and document verification. Currently, most institutions use centralized cloud servers to store student data, making them vulnerable to single-point failures. To overcome this, institutions need decentralized file storage systems. They ensure data is secure and that no third party can alter student records. Moreover, it costs considerably less compared to cloud storage. Education Meets Metaverse For Immersive Learning Experiences While blockchains vastly improve the efficiency and security of business and academic processes within education systems, it alone doesn’t address the main problem: student engagement. Since the pandemic, the new normal for students has been online learning. Although online tools have made education more accessible, they still lack the ability to provide immersive learning experiences. This is where metaverses step up to the plate. Blockchain-powered metaverses can transform online learning environments into virtual spaces with enhanced social interaction and gamified learning techniques. While education in the metaverse is a fairly new concept, there are projects like Edverse making headway. Edverse is creating the most immersive and insightful education metaverse on blockchain by bringing teachers, learners, promoters, creators, and institutions together. Edverse also values gamified learning. They are introducing tokens and NFTs to incentivize all stakeholders for their contribution and participation. Similar to play-to-earn, Edverse incorporates learn-to-earn and wear-to-earn incentive models. Educators can transform their learning modules into NFTs and sell/rent them on an open marketplace. And when learners complete these modules, they earn experience points which can be redeemed for $EDV tokens. Edverse is also suited for educational institutions or promoters. They can buy, create, and rent co-learning spaces to launch new custom courses and advertise on a global stage. In addition to gamification, Edverse is raising the bar for global learning standards. It covers learning journeys from Kindergarten to Class 12, with a focus on skill empowerment, physical strengthening, and ancient sciences. New Education Revolution Around the Corner? Education is one of the largest industries in the world that is untapped technology-wise. Many online platforms and tools are improving the medium of learning at scale, but the experience remains old-school. The use of blockchains can structurally change the way education is available to students and eliminate the issues in academic documentation and evaluation. Metaverses with blockchain solutions and advancements in VR/AR are needed to make that next jump in the digital-first world for the education sector. With increasing awareness and widespread acceptance, it is not too far stretched to see institutions and learners adopt blockchain in some capacity in the near future.  

Crypto News

CRO Coin Falls 19% After Crypto.com Announces Rewards Cut Down To Cardholders

On Monday, Crypto.com’s Cronos (CRO) slide followed suit with a sharp drop after the crypto exchange said it was reducing some staking and rewards tied to its popular pre-paid Visa cards.  According to Tradingview.com, the coin dropped by 19% to $.265. On Sunday before the announcement, CRO was trading above $.33 per coin.  Related Reading | TA: Bitcoin Consolidates Below $39k: What Could Trigger Another Decline Crypto.com announced the changes in a blog post: To ensure long-term sustainability, we are introducing a number of changes to the CRO Card rewards programme, effective 1 June 2022 00:00 UTC. CRO Card Rewards Cut Down Next month, the company will reduce the usage rewards on four of the exchange’s card tiers.  The most premium tier, the Obsidian tier, will see a Cronos card reward reduction from 5% to 2%. In addition, the Icy White / Frosted Rose Gold tier reward will be pulled down from 3% to 1%. The top tier of the company’s card program, Obsidian carries a $400,000 staking requirement and offers up to 8% cashback at retailers. According to company policy, there will be a limit on how much a person can earn CRO card rewards for two tiers. For example, the Ruby Steel Card earns are limited to $25 or equivalent in other fiat currencies like Dollars and Euros. While for the Royal Indigo/Jade Green tier, the cap is set at $50. In Addition, Crypto.com is phasing out CRO staking rewards for cardholders. Cards include Jade Green, Royal Indigo, Frosted Rose Gold, Icy White, and Obsidian. Staking rewards involves coin owners “locking up” or delegating a portion of their crypto holdings to earn more interest on deposits. While explaining staking rewards, the exchange said; Cardholders with an active 6-month stake and who staked before 1 May 2022 13:00 UTC will continue to earn CRO Card rewards on spending at the current rate until their 180-day stake expires. Thereafter, the revised rates will apply. Cardholders who stake CRO after their 180-day lock expires will earn card spending rewards as per the schedule. Cronos Price Performance Since the start of January 2022, Cronos has been trading lower. The price of CRO was over $0.50 at the beginning of the year, but it has been retreating since then. At one point, CRO was close to sliding below $0.30. Cronos’ price skyrocketed during the NFL Super Bowl. But after that, there hasn’t been any sign of a recovery as the price of CRONOS crashed continuously. Related Reading | Analysts Predict ApeCoin To Hit $50 By End Of 2025 – And $100 By 2030 In the last 24 hours, CRO started the day in green, but after the company announcement price crashed below $0.30. Since then, the coin has lost 19% of its value and reached $0.26 lowest level.  Featured image from Flickr, chart from Tradingview

Bitcoin Crypto News

Danger In The Crypto Space, U.S. Warn Of Surge In Attacks By North Korean Sponsored Hackers

Several U.S. federal agencies issued a joint warning about an increase in crypto-related hackings. Posted as an alert by the Cybersecurity and Infrastructure Security Agency (CISA), the Federal Bureau of Investigation (FBI), and the Treasury Department. Related Reading | Could Musk Fix This? Blue Checked NFT Scams Swamp Twitter  The U.S. government agencies noted the “cyber […]

Crypto News Ethereum

Former Ethereum developer sentenced to 5 years in prison

former-ethereum-developer-sentenced-to-5-years-in-prison

Former Ethereum developer Virgil Griffith (39) has been sentenced to 63 months in prison and a $100,000 fine for his aid to North Korea. In September, Griffith pleaded guilty to violating international sanctions against North Korea. Against the rules, Griffith gave a presentation at a crypto conference in Pyongyang in April 2019. According to the… More

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