Crypto News

LUNC Price Increases as Binance Decides To Burn Trading Fees

In response to proposals from the LUNC community, Binance has decided to burn all fees on LUNC spot and margin trading pairs. Binance said it would send the trading fees and margin trading pairs to LUNC burn addresses. The announcement was made via a blog post on Binance’s official website. The Terra Classic community expressed dissatisfaction with an ‘opt-in button proposed by Binance CEO. Binance offered the opt-in button to allow users to choose whether to implement a 1.2% tax burn on their spot. Related Reading: ETH Struggles To Break Past $1,300 Resistance – Back To $1K? After careful evaluation and consideration, Binance decided to take cognizance of the community’s dissatisfaction and set a new proposal. However, during their assessments, Binance also discovered that implementing an opt-in proposal would take time, and traders may not support it. Therefore, proposed a better and faster way of assisting the Terra Classic community. Details Of Binance’s New Burn Mechanism On Tera Classic Spot According to Binance, it would update the amount of LUNC to be burned, its USDT equivalent, and on-chain transaction ID weekly. In addition, the blog announcement outlined rules that would guide the burn mechanism. Binance would calculate the total trading fees on LUNC spot and margin trading pairs to be burned from the previous week every Monday at 00:00:00 UTC. Successive on-chain burn transactions and reports would get updated on Tuesdays at 00:00:00 UTC. The first batch of burning trading fees would be calculated from September 21 at 00:00:00 UTC to October 1 at 23:59:59 UTC. This would exclude rebates on LUNC spot and margin trading pairs for Binance Spot Liquidity Provider Program from September 21 to 27, 2021. Additionally, Binance would convert other tokens’ trading fees to LUNC on Mondays. The CEO of Binance stated that Binance would not push burn costs on users. The Terra Classic burn would not affect BNB fee discounts, rebates, or other accruing fee adjustments. The CEO further explained they intend to maintain the same trading experience and liquidity while ensuring the supply decrease of LUNC. LUNC Price Skyrockets By 70% After Binance Announcement The tremendous support of Binance to the Terra community produced a positive result in LUNC price. After the announcement, LUNC’s price increased by more than 70%. The Interpol issuance of a red notice against the Founder of Terraform Labs, Do Kwon, affected the price of LUNC adversely. South Korean prosecutors confirmed that Interpol issued the Red Notice against Kwon on September 26. Related Reading: Algorand: ALGO Price All Go With Nearly 30% Rally In Last 7 Days LUNC price plummeted by nearly 20%, while LUNA price fell by 18% after the announcement. It was trading below $0.0002 but is currently trading at $0.00032. Featured image from Pixabay, Chart: TradingView.com

Crypto News

Cardano Founder And ETH Dev Get Into A Tussle of Word On Twitter

Twitter threads from last week reveal a series of heated arguments between Cardano founder and Ethereum’s co-founder, and Vitalik Buterin. Amid several backlashes caused by lapses in the Ethereum Upgrade, the co-founders argue over the execution of the POS consensus mechanism. A lot has transpired within the past days after the Ethereum upgrade. Also, there are more like the Shanghai upgrade to come. On Saturday, 24 September, Evan Van Ness, a Web3 investor, expressed his opinion regarding the Ethereum merge. Van asserted that the last ten days after the merge are evidence the merge should have happened earlier. Related Reading: ETH Struggles To Break Past $1,300 Resistance – Back To $1K? Buterin seeing Van Ness’s tweet, agreed with him, saying they should have implemented an NXT-like chain based on POS. Charles Hoskinson Claims Ethereum POS Is a Bad Design Hoskinson joined the Buterin-Van Ness conversation, saying there should be a Snow White protocol to ensure faster POS migration. Hoskinson’s opinion didn’t go well with the others, which resulted in an argument between him, Van Ness, and other Ethereum developers. Snow White is a protocol that provides end-to-end proof of security for POS systems. Hoskinson has been an advocate of Snow White for many years. Hoskinson claimed his idea for the Ethereum network’s technical upgrade in 2014 was better than the present upgrade. Van Ness recalled that Hoskinson got removed from Ethereum due to his bad behavior and lack of notable technical contributions. Hoskinson accused Ethereum developers of ignoring Ouroboros in the last five years. Ouroboros is a secure proof-of-stake blockchain and the first peer-review researched based protocol. He also said the present version of the proof-of-stake upgrade is not well-designed. In their argument, Hudson Jameson, Ethereum’s core developer, responded to Hoskinson’s Ouroboros implementation claims. Jameson told Hoskinson that Ethereum developers hated Cardano because of his actions and behaviors. I guess Charles forgot about his Reddit history and how much he shit on Ethereum as he was building Cardano. Additionally, Vitalik did review Ouroboros a while ago. Ethereum devs aren't wanting to look at Cardano because of your attitude and actions as the face of Cardano. https://t.co/QB3QYRKkm5 pic.twitter.com/daX56FfwGv — Hudson Jameson (@hudsonjameson) September 26, 2022 The Ethereum developer also spoke of Hoskinson’s ill-treatment of Ethereum while he created Cardano. He also said Vatalik had reviewed Ouroboros. Charles Hoskinson On Success Of Cardano Hoskinson boasted that Cardano is not dependent on cryptocurrency to succeed and that they’ve grown to billions without mass adoption. Although similar arguments are not new between Hoskinson and the Ethereum developers, it shows how detached from each other the two blockchain’s have become. Both Ethereum network and Cardano are in the middle of intensive upgrades, but Hoskinson is known for his bullish opinions on his previous projects. Related Reading: Algorand: ALGO Price All Go With Nearly 30% Rally In Last 7 Days Cardano Vasil Upgrade and hard fork took place on Thursday, 23 September. Input Output Hong Kong (IOHK), the blockchain company behind Cardano, announced the successful upgrade via Twitter. IOHK stated the hard fork upgraded the network to block transmission without full validation to enable faster block creations. The Plutus smart contracts upgrade was for increased efficiency and a low-cost running of decentralized applications. Featured image from Pixabay, Chart: TradingView.com

Crypto News

How Metamask Gambling Is Decentralizing The Online Casino Industry

Metamask gambling has been growing in popularity over the last couple of years. With the rise of the Web3 space and online crypto gambling, Metamask managed to fill in a gap that brings both sectors closer to one another. Crypto casinos are taking more to integrate the Metamask wallets on their websites for gambling activities. Using a decentralized Web3 wallet like this ensures that users of these gambling platforms are able to enjoy features that are not available on more conventional online casinos. Why Metamask Gambling Is Better One drawback of conventional casinos is the arduous sign-up processes that are usually associated with them. However, casinos had started to move towards accepting crypto deposits and withdrawals, which, over time, had required less stringent sign-up processes. But even this was not a seamless process. This is where Metamask gambling enters the picture. Metamask is a Web3 wallet that allows users to interact directly with cryptocurrency networks. It had started out on the Ethereum blockchain but had since expanded to include other blockchains such as BSC, Avalanche, etc. It comes in the form of a browser extension and mobile application from which users can directly connect to Web3 websites. It is also an easy-to-use hot wallet where users can receive coins by simply copying their addresses to forward to the sender. Given this, Metamask has found a natural home in the online gambling industry. Gambling websites are able to integrate the Metamask wallets directly on their platforms, making it possible for users to register or log into the website using the wallet, as well as processing faster deposits and withdrawals. Best Metamask Casinos Metamask gambling casinos have been known to provide some or all of the integrations mentioned above. In some cases, some casinos will offer the option to deposit with Metamask only or the option to use the hot wallet as a means of authorization. So, here are the top 3 Metamask gambling casinos that you should look at. Bitcasino Bitcasino is arguably one of the best Metamask gambling casinos in existence. It offers full functionality with Metamask, making it a one-stop shop for all things Metamask gambling. Users can register and log into the platform using their Metamask wallets. Bitcasino also takes this one step further by offering deposits and withdrawals using Metamask. Users can also use other tokens on the wallet, such as USDT, on the Bitcasino website. Players should, however, note that there are some things not offered by Bitcasino in this regard, such as a welcome bonus for ETH players. Users may also be required to complete a KYC verification when the casino requires it. Nevertheless, Bitcasino offers beloved slot games, as well as a wide variety of live casino games. The betting platform is also one of the few crypto casinos that offer betting on eSports. However, users cannot place crypto bets on games such as Crash or Dice. BC.GAME BC.Game has been pretty much the only Metamask gambling platform that supports the BSC network. This casino allows the direct integration of Metamask but for deposits. Users can also use the wallet to carry out authorizations on the platform. And unlike Bitcasino, BC.Game supports a much wider array of tokens, including ETH and MATIC. While it does have a welcome bonus, there is no stable welcome bonus on the platform. Also, similar to Bitcasino, BC.Game can also require users to go through KYC verifications. However, users get one free spin daily with a prize of up to 1 BTC. Sportsbet.io The third on the list is Sportsbet.io. It is a Metamask gambling platform that allows a minimum deposit of 10 USDT and offers a stable welcome bonus, unlike the others. Users can get up to 2000 wager-free spins that are worth 200 USDT. Furthermore, users can use their Metamask wallets to authorize their accounts, as well as make deposits and withdrawals. It also accepts other tokens available on the hot wallet, such as ETH and SOC. Like the others, Sportsbet.io comes with its own disadvantages, such as KYC verification and the fact that there are no provably fair crypto games. However, the betting platform is extremely popular and is currently the principal sponsor of the English Premier League football club Watford FC. Conclusion Metaverse gambling platforms are still very new, but they have already proven their value to the online crypto gaming space. As more platforms innovate toward integrating Metamask gambling, these advantages are bound to become more apparent to the gambling community. But for now, the platforms offering Metamask gambling are a small pool and only support a handful of tokens at this time.   Image by Alexa from Pixabay

Altcoins

T-Mobile Joins Helium (HNT) Founders Nova Labs To Launch New 5G Mobile Network

T-Mobile is teaming up with Helium (HNT) founders Nova Labs to assist in the launch of a new 5G mobile service allowing users to earn cryptocurrency. Nova Labs and T-Mobile have signed a multi-year agreement as the decentralized wireless communications company plans to launch Helium Mobile to expand services on the Helium 5G network, which […]

The post T-Mobile Joins Helium (HNT) Founders Nova Labs To Launch New 5G Mobile Network appeared first on The Daily Hodl.

Crypto News

ShareRing Enables Direct $SHR Swapping Between BNB Chain and ShareLedger

From September 22, ShareRing app users can directly swap $SHR between BNB Smart Chain and ShareLedger (SLP3) without first converting to Ethereum ERC-20 token. ShareRing said the decision to slash conversion steps from three to two would drastically boost efficiency, lower the cost of conversion, and save time. $SHR is native to ShareLedger, a Leased Proof-of-Stake blockchain that’s scalable and energy efficient. Compliant with the ShareRing standard, the token is primarily used to pay transaction fees. However, because the token is cross-chain and can be held in various blockchains, including the BNB Chain, and Ethereum, all $SHR transactions can be tracked on the ShareLedger blockchain. There is a trail that prevents fraud by ensuring a simple and reliable tracking mechanism on the ShareLedger blockchain. Before this announcement, $SHR token holders were required to shift their BEP-2 token first to the BEP-20 version in the BNB Chain through the non-custodial Binance Wallet. In the second step, they had to move the newly converted BEP-20 $SHR to Ethereum as an ERC-20 token through the Multichain Bridge. Afterward, they had to move them to ShareLedger (ShareRing App) as an SPL3 token. This three-step procedure was not only tedious but consumed many resources. Notably, there was a risk of users paying high transaction fees when shifting the $SHR token via Ethereum. This is because Ethereum is the world’s most active blockchain that continues to face scaling challenges, forcing Gas fees to outrageous levels. Depending on network activity levels, simple conversions, including transfers, can dent a sender requiring them to pay high fees that they would not otherwise spend in the BNB Chain or ShareLedger. By eliminating the need to move to Ethereum via the Multichain Bridge, ShareRing is tirelessly continuing with its objective of refining the user experience and working on improving the liquidity of the $SHR cross-chain token. While the Multichain Bridge will continue to serve users wishing to move tokens between Ethereum and the BNB Chain ecosystems, the decision to convenience users wishing to bypass Ethereum when transferring between ShareLedger and Binance is welcomed. To conclude with this updated swap module there will be faster transactions, cheaper gas fees, improved efficiency when swapping $SHR into SLP3 and usage of EIP712 to sign and verify the approvals on smart contract side. Also, it reduces the usage of centralized database for keeping transactional data and it improves overall performance. This feature comes amid ShareRing’s drive to build an active, cyclic ecosystem that leverages features made possible by smart contracts and blockchain. ShareRing recently announced the NFT Simple Event feature available on the ShareRing Application designed for organizing and managing events. By integrating NFTs, the host can, in real-time, be assured that attendees are the ones invited, all while keeping their data private.