Crypto News

Ripple Outperforming Almost The Whole Market, What’s Pumping XRP Price? 

The currency of the blockchain-powered online payment platform, XRP, has gained almost 60% in the past week. After briefly dipping to $0.34 five days ago, the token climbed back and traded around $0.52 this morning. Crypto influencer Ben Armstrong claims to know the reason behind this continuous climb amid the current general crypto bear market. The multiple-crypto holder shared his two cents about the state of events with his 800k plus followers on Twitter yesterday. Related Reading: Maker DAO Shows Bullish Sentiment After A While, Eyes $800? Influencer Believes Impending Close To Ripple-SEC Case Is Responsible According to Armstrong, multiple factors are causing Ripple’s insane price surge. However, he can confidently trace one primary reason to the ongoing SEC court battle with the sixth strongest crypto. The influencer tweeted that SEC has given up on its 2-year struggle of trying to prove XRP is a security. As of this week, the Ripple community “can be pretty confident the worst-case scenario is a fine,” the tweet reads. The last weekend saw both parties in the ongoing case filing for summary judgment. In other words, Ripple and SEC believe enough evidence has been provided for a verdict outside a court case. They wait for Judge Torres’ decision supporting one side or the other based on already available evidence. A court battle that started way over in 2020 might soon be coming to an end. Ripple And XRP Community Expect A Favorable Verdict Like Ben Armstrong, the Ripple community and Ripple Labs are expectant of a favorable ruling. If that happens, XRP will not be considered a Security but a digital asset, just as Ripple intended.  Another crypto influencer predicted that if this happens, it will be the needed boost the bearish crypto market needs. David Gokhshtein tweeted that the crypto market will go parabolic should XRP win this case. He and Brad Garlinghouse, Ripple’s CEO, believe a win for XRP would stamp cryptos stand with regulation. Consequently, it would increase investors’ faith in the ailing asset. Whale Movements On XRP Blockchain Also Partially Responsible For Price Boost Another reason for the surge in XRP seems to be whale movements on the platform. On-chain analytics firm, Sentiment data reveal an increase in whale transactions on the Ripple blockchain.  Furthermore, the Whale Alert crypto tracker revealed multiple anonymous transfers of significant amounts of XRP in the past week. Data showed that a 261 million XRP transfer and another 582 million XRP transaction took place. Ripple was involved in both transactions, moving 80,000,000 of the tokens externally. In total, close to a billion tokens exchanged hands in whale transactions last week.  Related Reading: Can WAVES Flow Back From Its Low Ebb And Reclaim $4.6? These two factors mentioned above are mainly responsible for the continuous climb of XRP tokens over the last week. One can only wait to see if the XRP community’s optimism is indeed rightly placed and that ripple will indeed win the case. At the time of writing, XRP is currently trading around $0.48 after briefly testing $0.52 earlier today per Coinmarketcap data.  Featured image from Pixabay and chart from TradingView.com

Crypto News

Sagaverse: Allowing Creators and Fans to Co-create and Co-monetize

It has never been easier to create — and this is reflected in 50 million creators trying to earn a living from their work — but the majority are struggling as only 2% of creators are earning income above minimum wages. What all creators have are their own superfans that create content. Yes, that’s right – The flip side of being a creator is what makes a creator in the first place: Their fans. Today, fan content already outnumbers original content. There are 75 million fans creating derivative works and fan art, creating a whopping 7.5 billion fan content consisting of images, videos, live streams, and comments. However, most generated content is trapped in dead ends. This content is ‘forgotten’, remains unmonetized, and is not used as a distribution driver. That is a massive missed opportunity. This is true for video, where even though video accounts for over 85% of internet traffic, video is still constrained to linear passive broadcasts and distribution models that lock out many creators and their fans. The Sagaverse project’s  founders spoke to content creators and communities to identify the best solutions to solve these problems. What’s needed now, is the ability to unleash new forms of video experiences, while fairly compensating for fandom, community, and participation. Let us show you how Sagaverse empowers ownership, attribution, and lifetime passive income. Key Points of Sagaverse Sagaverse, an engine and protocol for web3 social media, makes it easy for creators and fans to come together to co-create, co-monetize and co-distribute. Sagaverse is developing a cross-platform app that acts as a user-facing front-end for a rich media player and integrates a new approach to co-creation powered by derivative content monetization and various social features. Bringing creators and fans together, Sagaverse makes it possible for creators to activate fans and their content, bringing them limitless benefits. For creators, there’s nothing more powerful than a fan and what fans crave most is meaningful interaction and connection. Just imagine the greater network effects that could be realized if creators and fans were given the power to buy in. Blockchain Central to Sagaverse is its blockchain-powered manifest ensures attribution and licensing information is carried along and terms are always honored. The protocol consists of two main components: Rich Media Manifest for composing, distributing, and recomposing tokenized assets while retaining attribution, licensing information, and no duplication of assets Media Engine merging creation and consumption of interactive visual assets (2D, 3D, Programmable, Audio) Possibilities for Creators and Fans Content on Sagaverse is called a Saga. Sagas are all about collaborative play and creation. At the heart of Sagaverse is a rich media player designed for next-generation visual media including interactive and augmented video. We know that this is the next content format people will love and want in their lives. Combining this media player and manifest brings co-creation and attribution together, encouraging new rich media experiences through: Interactivity A 3D artist can create a 3D character and allow 3D animators to animate it, add video filters, AR games, custom emoji packs, etc. Every time the character is used by other artists or fans, the 3D artist who created the initial character receives rewards or royalties. Besides, creators can mint video NFTs and make them remixable by others, receiving royalties when consumed. Collaboration Creators and artists can unite and create ads, and then when advertisers use those ads, the co-creators receive royalties for their work Rich Media Besides, creators can cooperate with their fans; thus, they can make co-own augmented video NFTs, which Sagaverse calls Rich Media. A second, a like, a comment, a remix, a collaboration – everything counts and generates value. What Kind Of Content is Sagaverse Meant for? Current business models on Web2 platforms are unsuitable for the new expectations of creators, prosumers, and fans. Artists who focused on interactivity did not have a place in Web2, but now the world is asking for their content. Sagaverse developers created the platform for artists who create content that demands interactivity, such as video with fast-moving content (like sports), 3D artists, motion graphics artists, shader programmers, and developers that produce programmable content. And an open rich media format to describe the content like comments, likes, reaction videos, remixes, and related other content. Tokenomics Owning the Sagaverse token means owning the future of creation. The token is used in all platform transactions and is backed by partial DAO ownership of a growing content library. Token demand comes from staking and platform transactions. Monetizing is easy.  Mint, own, and get paid all from the Sagaverse mobile app. Creators always keep 95% of the revenue they generate. Every time anyone engages with a Saga, owners are rewarded through a Play to Earn model that continuously pays out over the lifespan of the content. Sagaverse’s blockchain protocol ensures attribution and licensing information is carried along and terms are always honored. Sagaverse allows anyone to support creators through content staking. Anyone can invest tokens earned or by purchasing additional Saga tokens. The more derivative works, engagement, and transactions a Saga has, the more tokens are distributed to its owners and stakers. This incentivizes and rewards creators and fans to build up the Sagaverse network through co-ownership, co-monetization, and co-distribution. The Sagaverse DAO retains a 5% fee from all transactions for maintaining and growing the platform, and some part is allocated among creators depending on how their content is consumed. Roadmap The first product launch of Sagaverse dApp is scheduled for a Q4 2022 release, targeting short-form video Creators, eSports players, 3D artists, 3D animators, developers, and fans of Sagaverse’s future is an open protocol for tokenized rich media. In late 2023 Sagaverse will open its protocol, allowing publishers to build creation and consumption experiences and enabling publishers to build and launch collaborative web3 media dApps. Wrapping up While Web2 is not enough for content creators to make a living, Web3 opens an extensive list of opportunities for both creators and fans, allowing both to cooperate, co-create and monetize. The Sagaverse platform brings together short-form video Creators, eSports players, 3D artists, 3D animators, developers, and fans who create interactive videos and want to monetize their work. Blockchain technology allows distributing and recomposing of tokenized assets while retaining attribution and licensing information. Mobilizing communities to create, remix and monetize interactive and AR video Bringing your digital assets to new audiences Enabling new revenue from your digital assets Creating with idols. Activate your community of fans to create, remix and monetize All this incentivizes and rewards creators and fans to build up the Sagaverse network through co-ownership, co-monetization, and co-distribution. Their Mission is bold: Empower 1 billion creators and fans to co-create,  generate income and thrive through creation and play with interactive visual content.  

Crypto News

Plugin-Ambient Weather Partnership: Empowering Today’s Society with Smart and reliable Weather Systems

The global climate is changing rapidly as compared to the pace at which natural variations occurred in the past. And with the climatic changes, previously unseen occurrences that could hinder many day-to-day operations in society are becoming too common. For instance, global temperatures rose by roughly 1.8 °F between 1901 and 2016. The high temperatures are worsening and making frequent different types of disasters—heat waves, storms, floods, droughts, etc. Warmer climates are also creating atmospheres that collect, retain, and dump more moisture, changing weather patterns in a way that wet areas become wetter and dry areas become drier. Increased drought, intense floods, and storms are causing numerous public health and safety concerns. As well, the increased unpredictability of weather patterns is posing risks to numerous weather-dependent activities—including but not limited to agriculture, travel, education, sports, etc. Given that some of these activities touch on the social and economic wellbeing of our societies, increased unpredictability in weather poses significant challenges to populaces globally. While unpredictable weather poses a threat to day-to-day activities, all is not doom and groom. Unique partnerships leveraging smart weather forecasting and decentralized data-transfer protocols are making it possible for the inception of technologies that can point out weather changes or any related events in real-time. The innovations are giving stakeholders the ability to verify weather patterns that may affect their activities, further improving how society interacts with the ever-changing climatic conditions. To highlight the importance of unique partnerships in unlocking the potential of smart weather management systems, let’s look into the recently concluded Plugin-Ambient Weather partnership and why it matters. Plugin-Ambient Weather Partnership: Why does it matter With the rise in demand for accurate weather forecasts in day-to-day activities, the Plugin–Ambient weather partnership avails users with more options regarding smart weather stations for homes, businesses, farms, and more. As well, the partnership avails network members with an option to become data providers. Given that ambient weather is available globally, the partnership allows users of ambient weather’s smart weather stations to participate in gathering weather-related data and claim the rewards therein. Worth noting: The basic criteria a user needs to meet to participate in Plugin WFN’s use case as a data provider include; having uninterruptible power and Wi-Fi, and outdoor space to install an Ambient weather station. These preconditions ensure seamless data transfer via an approved Ambient sensor. Plugin–Ambient Weather Partnership: How can users Participate Individuals or organizations that are interested in smart weather systems and willing to be part of Plugin WFN project must first purchase Ambient Weather’s smart weather system. Upon acquiring and installation of the smart weather forecast station, the user should go ahead and connect their device to Plugin’s portal. The registration process involves generating an ‘applicationkey’ & ‘apikey’ to register the new device. Upon creating the appropriate API keys for their device, users will have to check if their sensors transmit data to the ambientweather.net portal. Thereafter, users will be required to submit their device’s applicationkey, apikey, latitude, longitude, country, state, city, zip code, and wallet address to Plugin’s portal. If the data is satisfactory, team Plugin will approve the user’s node. Once approved, a user will be required to stake 1000 PLI & 5000 XDC to register as a data provider for Plugin WFN. After staking is done successfully, a user will receive an approved WFN device ID for their node, allowing the user’s sensor to gather weather-related data for Plugin WFN’s project. Thereafter, a user can claim their reward for providing weather-related data. Interested users can view the detailed step-by-step process here. What are the likely benefits of Plugin–Ambient Weather Partnership Increasing Utility for Weather Forecast Data Previously, weather intelligence systems relied upon distributed radar and satellite systems to gather data. While the data has been useful, it has been general in nature, thus limiting its scope. Particularly, such data has lacked accurate and real-time aspects that help businesses make more informed choices. On the other hand, generic weather forecasts from distributed radar systems produce raw data that’s relatively expensive, confusing, and inaccessible to many end-users. The raw data is often nested within weather stations in airports, government agencies, and academic institutions. As well, the data is released to the public via endpoints controlled by centralized organizations like the National Oceanic and Atmospheric Administration (NOAA), National Aeronautics and Space Administration (NASA), the World Meteorological Organization, etc. Many a time, released data sets aren’t in real-time and may be complicated, necessitating expert assistance to digest the data for ordinary end-users. However, the Plugin–Ambient weather partnership solves these problems. With decentralized weather forecast sensors (made possible via Ambient weather’s smart solutions), Plugin collects highly granular data that’s cryptographically signed before being uploaded onto PLI’s blockchain. Thanks to the partnership, data users can verify the provenance of the data by checking the coordinates tagged with the data. What’s more, the decentralized, yet highly trustworthy, nature of collected weather forecast data increases the accuracy, accessibility, and user-friendliness of climate data. It also lowers the costs of climate data. The resulting ease-of-use and ease-of-access to highly accurate and verifiable climate data give autonomy to end users that could not previously acquire the data and make appropriate decisions. The increased access to data opens-up opportunities for numerous use-cases that leverage the diverse nature of climate data. Some unique examples include crop insurance and logistics. Reducing Climate-Related effects globally The Plugin–Ambient weather partnership also unlocks benefits and synergies that have significant potential to reduce climate-related effects. With highly granular data and improved provenance, the partnership holds the key to unlocking efficiencies in agriculture, disease control, conservation, humanitarian and military operations, and mitigating climate-related challenges. In agriculture, for instance, highly granular data that’s made possible by the partnership will help alleviate challenges straining the agriculture production system. Worth noting, projections show that the agriculture sector will have to feed roughly 9.8 billion people by 2050. Accompanying the rising population is a multiplicity of adverse environmental effects that put significant strain on the productivity of previously valued arable regions. These strains are projected to increase given the predicted extreme weather conditions and increasing effects of global warming. Nonetheless, food production systems can benefit from highly accurate and granular data—availed by the partnership between Plugin and Ambient weather. For instance, farmers and food providers can benefit from accurate and real-time climatic data in many ways. In particular, having highly granular data on weather patterns helps food producers make accurate decisions before, during, and after their production cycles. With climate change requiring farmers and breeders to respond to changes faster and in smarter ways, data-driven decentralization of weather forecasting (as seen in the Plugin – Ambient weather partnership) can improve predictions and improve breed selection in dynamic production environs. Improvements in breed selection will result in increased productivity. On the other hand, decentralized data collected via Ambient’s weather sensors has the potential to improve humanitarian and national security issues relating to climate change. With natural disasters becoming more catastrophic and displacing large populations, national security agencies in different countries have to rely on smart and highly accurate data to optimize their response to adverse climatic events. In the recent apocalyptic floods in Southern Asia, for instance, the highly granular data collected by Plugin can help key stakeholders improve the preparation and response to such disasters. Specifically, the highly accurate data availed in real-time can allow security agencies to allocate resources (food supplies, manpower, and equipment) where most needed before, during, and after a natural disaster. Improved planning can help save lives and prevent misuse of vital resources during such events. Nurturing Sensing-as-a-Service (SEaaS) model Sizeable networks of sensors are in use today. And there’s numerous potential in data collected by these nodes, globally. Be it weather stations tracking atmospheric changes or shipping trackers, the SEaas model has the potential to create passive revenue streams as well as provide resources for important enterprises. In this context, Plugin–Ambient Weather partnership pioneers the SEaaS space by leveraging blockchain and remote sensors availed by ambient weather’s smart weather solutions. Through the partnership, users in ambient weather’s network can leverage the partnership to earn some benefits. On the other hand, the incentives offered, and the automatic manner in which data is collected and transmitted guarantees the accuracy and verifiability of data gathered through the Plugin and Ambient weather set-up. While the partnership unlocks synergies associated with weather forecast data, it also highlights the potential held by solutions employing blockchain-based smart contracts and decentralized data nodes. It also highlights the possibilities that blockchain and decentralized data providers can achieve by ensuring the verifiability of data without centralized organizations checking and rechecking the data for accuracy. Ultimately, a vibrant SEaas space will help unlock new economies and improve benefits to organizations, governments, and the entire society. Final Thoughts With the increasingly changing and unpredictable climatic patterns, more industries are experiencing previously unseen challenges. Some of these industries play very crucial roles in our society, and mitigating the ensuing climate effects is paramount. Though numerous solutions to climatic change and its effects exist, decentralized tech holds a lead position in providing sustainable results. In line with these views, the partnership between Plugin and ambient weather guarantees accurate, verifiable, and highly granular climatic data. The data, which is availed in real-time, provides some important insights to guide vital activities in agriculture, disease control, humanitarian initiatives, conservation, etc. The smart climatic weather data systems also unlock an array of opportunities in a variety of weather-dependent industries That said, Plugin-Ambient weather’s partnership makes significant contributions toward empowering today’s society through accurate, and verifiable weather data. For more information, kindly visit the following links: A). Plugin Twitter Plugin Website Plugin WFN user interface Plugin WFN – Ambient weather unit onboarding instructions B). Ambient Weather Twitter Ambient Weather Website  

Bitcoin

Report: Bitcoin Mining Companies Spend Excessively On Administration Compared To Other Industries

Data shows the public Bitcoin mining companies have been spending more excessively on administration, compared to other industries like gold mining. Average Public Bitcoin Miner Spends 50% Revenues On Administrative Costs According to a new blog post by Arcane Research, most BTC miners have only focused on minimizing direct production costs, and neglected indirect expenses […]

Bitcoin

Binance CZ Favors Biden’s Regulatory Policy Unlike Other Industry Leaders

U.S. President Joe Biden ordered federal agencies in March to analyze the crypto industry in order to design better regulations protecting users. After six months of Biden’s order, the government authorities issued reports covering recommendations for the crypto regulatory framework needed to drive transparency and prevent illicit activities. The cryptocurrency reports published on Thursday faced […]

Crypto News

Why Celsius Investors Don’t Seem Upbeat Despite CEL Rallying 30%

Celsius (CEL) has been on the headlines recently in line with hearing updates following its filing of bankruptcy and sale of stablecoins. CEL price spikes 30% as seen in the past 24 hours Price slumps 13.21% despite improvement in social media metrics ETH Merge to impact CEL performance Celsius Network has recently filed for bankruptcy in July and is now in Chapter 11 proceedings. More so, the network has also requested for court authorization on its plans to dispose its stablecoins to pump up liquidity needed for its operations. Once this is approved by Martin Glenn, the U.S. presiding judge, the money pooled from the sale of stablecoins would serve as funding for Celsius operations. The said hearing on the sale of stablecoins is set on October 6 in New York. Related Reading: Celsius Meeting Audio Leaked – Why Staffers Are Reacting With Mistrust Agreement To Appoint An Independent Examiner In September, The U.S. Trustee’s office together with Celsius’ committee consisting of creditors made an agreement to assign an independent examiner with the condition that they will restrict both the funding and time allotted to the examiner. More so, the United States Trustee’s Office will be in charge of choosing the examiner. The judge has approved this on Wednesday. In this connection, Celsius has recently posted a tweet on September 15 harping on their willingness to continue working with the U.S. Trustee and Unsecured Creditors Committee as well as their commitment to improve network efficiency in order to serve their customers better. Related Reading: Will Tron Tie-Up With Liquidity Provider Wintermute Boost TRX Price? CEL Price Down 13.21% Despite Increase In Metrics Triggered by the recent developments and hearing events, CEL price is observed to have spiked by 30% as seen in the past 24 hours. More so, CEL social media metrics has also accelerated. Social media engagement also peaked at 1.2 billion showing a remarkable growth of 32.26%.  Despite the boost in social media engagement as well as a price rally, there are still some nagging issues surrounding CEL that make investors apprehensive about the altcoin. According to CoinMarketCap, CEL price has nosedived by 13.21% or trading at $1.70 as of this writing.  The total market cap of CEL has slumped by 36.21% as seen in August. More so, market dominance also declined by as much as 41.25%. Uncertainty is creeping on the token, and investors are being extra cautious in making any move due to its high volatility. The Ethereum merge also has a great impact on CEL performance. In fact, Celsius has posted a tweet stating that they are tracking the merge. Investors also look at the short-squeeze movement as a warning because history shows that this movement can negatively impact investor portfolios. Crypto total market cap at $927 trillion on the daily chart | Source: TradingView.com Featured image from LedgerInsights, Chart: TradingView.com