Altcoins Analysis Bitcoin Blockchain

BAYC’s Yuga Labs Files Lawsuit Against RR/BAYC Creator Ryder Ripps

NFT Flipping Isn't Profitable For Over 50% Of Investors - Here’s Why

Yuga Labs, the NFT company behind BAYC and MAYC, has filed a suit against American conceptual artist and creator of NFT collection RR/BAYC, Ryder Ripps, and his partner Jeremy Cahen. Yuga Labs claims the creative director is “scamming consumers by misusing Yuga Labs’ trademarks.” Yuga Labs accuses Ryder Ripps of intentional copyright infringements In the […]

Crypto News

REV3AL – NFT and Digital Asset Authentication Technology Launches on KuCoin June 30th

REV3AL, a new and innovative cryptocurrency project, comes at a critical time in the crypto sector when scams and fraud are on the rise. As a solution to the hindering growth of the digital media market, REV3AL offers digital copyright protection and anti-counterfeiting solutions for artists, creators, and intellectual property owners. With its multi-layer authentication and anti-counterfeiting protocol, REV3AL hopes to play a major role in protecting digital media, on platforms such as NFT market places, gaming platforms and the metaverse. Venture capital firms and private investors have invested in REV3AL, including Alphabit Fund, NFT Technologies, Uplift, IBC, Moonstarter, and Launchpool. NEAR Protocol & Hedera Hashgraph are just two of the industry’s leading blockchain & distributed ledger technology partners REV3AL is partnering with along with major metaverse and infrastructure partners such as MetaVRse, TCG World, Utherverse, Forward Protocol, and over 50 others. The REV3AL token will be listed on the KuCoin cryptocurrency exchange, one of a select few projects to launch directly on this top-tier exchange. Among the top three crypto exchanges in the world, KuCoin boasts over 10 million registered users as well as 24/7 world-class services in investors’ preferred languages and channels. The token will go live on the Kucoin platform on June 30th. The REV3AL technology ecosystem REV3AL uses multiple dynamic authentication levels on and off-chain to deter fraudsters and prevent digital assets from being counterfeited or abused. REV3AL`s technology strategy is to develop an agnostic ecosystem and product offering for the blockchain and metaverse space and its mission is threefold. To begin with, it aims to authenticate digital media assets both on and off the blockchain. Verifying assets in the digital world, preventing counterfeit attacks, and safeguarding intellectual property. By providing simple and intuitive methods of verification, it enables creators, collectors, and marketplaces to verify the authenticity and originality of their collections, and preserves the value of the original work. Secondly, REV3AL is working on developing a secure NFT marketplace to provide NFTS and digital assets in a curated experience that includes both established and new creators, brands, and partners. Finally, through a unique and easy-to-use API, REV3AL will integrate and provide authentication to 3rd party NFT or digital media marketplaces, gaming platforms, and the metaverse. REV3AL’s security protocols and best practices will be applied to Web3 and the metaverse in a standardized and interoperable manner. REV3AL tokenomics Through a sustainable model of digital asset protection, the project utilizes the token component as a foundation for establishing and verifying the REV3AL security layers. As a result, it has methodically arranged its token metrics to achieve this objective using a deflationary model. In addition, a portion of the token allocation will support charitable projects that support the environment, youth and our community. REV3AL maintains a one billion token hard cap and the ticker for the token will be $REV3L. The token will be listed on KuCoin on June 30th. About REV3AL REV3AL has received widespread support, with a strong organic following on Twitter and Telegram and the project aims to establish itself in the ecosystem as an industry standard for digital asset media authentication tools by quality and value. The team and advisory network comprise of a broad and deep range of experts in various disciplines, such as system architecture, visual arts, cybersecurity, cryptocurrencies, software engineering, anti-counterfeiting, and graphics security. Mo Kumarsi, the CEO of REV3AL, has been integral to some of crypto’s most successful projects, such as CoinPayments and Power Ledger. Adam Russell, the project’s CRO, has over 20 years of experience in cyber safety, blockchain and XR, CPO Eric Prouty specializes in producing and launching mobile and Internet-based technologies, including those in the Web3 space, CMO Georgina Woolams-Edwards is the founder of an international marketing and PR agency with offices in London and Dubai, and CTO Bernard O’Flynn has spent most of his 26 year career building and managing product and engineering teams in the tech/fintech space. Members of the advisory board include notable figures in the blockchain industry, such as Karnika E. Yashwant, the founder of Forward Protocol and Key Difference Media, Mario Nawfal who is the CEO of NFT Technologies. As well as Alan Smithson, known as the godfather of XR, founder of MetaVRse, and Liam Robertson, founder of Alphabit Fund, a premier blockchain fund. Bottom line REV3AL users and token holders can participate in building an ecosystem of complementary technologies and partners that will play a key role in the security, and success of the web3 economy. Addressing a clear market need, giving users confidence, and supporting the rights of creators to control and profit from their original work. REV3AL community members will also have access to exclusive content on the secure marketplace as well as in future metaverse environments. They will have the option of participating in staking and purchasing tokens that can be traded on KuCoin.

Altcoins

Ethereum Altcoin Project Rockets 160% Following Announcement of New NFT and Gaming Developments

An altcoin project built on Ethereum that has been relatively quiet for some time is in the middle of an explosive rally as it outperforms the rest of the crypto markets. Stratis Platform is an Ethereum-based, decentralized blockchain platform aimed at enabling Microsoft developers to build applications on top. The Stratis code is based on […]

The post Ethereum Altcoin Project Rockets 160% Following Announcement of New NFT and Gaming Developments appeared first on The Daily Hodl.

Bitcoin Crypto News

Why Crypto Is “Likely To Dump” As It Lags The S&P 500, Expert Says

Bitcoin remains stuck at its current levels. The number one cryptocurrency has been unable to push upwards and could be in danger of revisiting its yearly lows. Related Reading | Outflows Rock Bitcoin As Institutional Investors Pull The Plug, More Downside Coming?  At the time of writing, Bitcoin trades at $20,700 with sideways movement in the last 24 hours and the past week. According to crypto analyst Justin Bennett, Bitcoin is hinting at further losses. The cryptocurrency stayed rangebound even as the traditional market rallied. Bitcoin has displayed a high correlation with traditional equities. In particular, the price of Bitcoin seems to be moving in tandem with the Nasdaq 100 and the S&P 500 Index. However, this dynamic has been changing in short timeframes making BTC a lagger as equities trend upwards. Bennett believes this is an indicator of a fakeout, a false upwards movement before a re-test of previous support. At the moment, the analyst claims, there is nothing more important for BTC’s price than equities. Via Twitter, Bennett wrote the following and shared the chart below: Everything for #crypto boils down to this…Does the S&P 500 fail to hold above 3,880? If so, and we get a 1h close below, this latest rally becomes a fakeout, and we likely get the next leg lower for stocks and crypto alike. Everything else is just noise. You could literally trade BTC using nothing but the S&P chart above. As of now, it looks like this level will fail. As seen in the chart above, the S&P 500 broke below a major trendline and seems to be heading towards critical support at 3,800. Bitcoin seems to be holding its levels despite the S&P 500 price action, but Bennett ruled out the possibility of a “fakeout” due to the overall weakness in the market. I've seen a few comments stating that this could be a fakeout. The fakeout to the upside already occurred. The last 1h close confirmed it. No guarantees, but fakeouts of fakeouts are rare. pic.twitter.com/GQjKCwzRm9 — Justin Bennett (@JustinBennettFX) June 28, 2022 Bitcoin Levels To Watch In Case Of Further Losses Data from Material Indicators shows liquidity on crypto exchange Binance has been constantly moving around current levels. There are over $30 million in bids orders below BTC’s price which could provide important support. However, as seen below, asks orders to have been swelling which could prevent BTC’s price to break above $21,000 and get out of the danger zone. Analysts from Material Indicators identified the levels between $17,000 and $19,000 as the next potential area for Bitcoin. Related Reading | Glassnode Deems 2022 Bear Market As The Most Atrocious For BTC And All Cryptocurrencies At those levels, there are important pools of liquidity, and the price of Bitcoin tends to trend towards these levels. The analyst added: This looks like a ladder of #BTC bids that intends to get filled. Time will tell if it gets filled where it rests or if it needs to adjust closer to the active trading range.

Crypto News

More security, transparency, and scalability: What blockchain needs for mass adoption

In February 2022, the Ukrainian government ran a crypto donation campaign to support victims of the Russian invasion. When the nation tried to reward those who had contributed to the fundraiser by sending crypto wallet holders complimentary NFTs, a slew of scammers took advantage of the government’s generosity, causing the operation to cease. Rug pull scams like this, where cyber criminals drain money from unsuspecting investors, aren’t uncommon in the crypto space, unfortunately. Shortly following the Ukraine rug pull, in March this year, hackers discovered a weakness in the Ronin blockchain used by popular play-to-earn platform Axie Infinity. In the security breach, the scammers ended up stealing $165 million from Axie’s parent company, Sky Mavis. In addition to rug pull scams, cryptocurrency exchanges can be compromised through poor security or fraud. This is what happened in 2014 when the Mt. Gox exchange collapsed in a years-long attack by hackers. By the time the breach was detected, a loss of between $300 million and $480 million of users’ funds had occurred. Since the attack, it has been estimated that $1.5 billion in cryptocurrencies have been stolen from exchanges. Blockchain’s utility isn’t limited to just cryptocurrency, though. The shared and immutable ledger’s ability to provide transparency and security allows it to be applied to numerous other sectors, including real estate, supply chains and gambling. Although the technology has taken the world by storm over the last few years, issues like the inability to hold scammers accountable for rug pull scams have plagued the industry, preventing it from being adopted into the mainstream. Additionally, large demand on blockchains that slow their transaction speed requires improvements to the technology’s ability to scale, a problem that many blockchains have so far struggled to achieve. Newcomer to the blockchain space, Zetrix, has found a solution to address issues relating to transparency and security in the blockchain. It can facilitate smart contracts and deliver privacy, plus its cryptographic infrastructure can be introduced to multiple industries, creating a more transparent and efficient process. Zetrix’s network also has incredible scaling ability, being able to withstand 10,000 transactions per second. In addition, Zetrix uses DPoS (Delegated Proof of Stake) to secure the blockchain by ensuring representation of transactions within it. DPoS is designed for implementing tech-based democracy using elections and voting processes to protect from centralization. The Zetrix DPoS mechanism is implemented through smart contracts with a dynamic upgrade mechanism that adjusts to the difficulty level of validating node access as Zetrix’s network expands, which means no matter how vast the network grows, the privacy and security of its users will remain intact. As an added measure, the consensus mechanism allows transactions to be validated before being added to the blockchain, and all validators are voted in via a contract. In a groundbreaking new report by the Institute of Industrial Internet & IoT, China Academy of Information and Communications Technology (CAICT), the blockchain confirmed that it can complete transactions using a significantly low amount of energy compared to other blockchains. Specifically, it only requires 21 super nodes and 100 common nodes to complete a transaction, compared to Bitcoin, which uses 2.2 million super nodes, and Ethereum’s Proof of Work (PoW) blockchain which uses 2.3 million super nodes. Zetrix’s mission is to connect countries and their governments, businesses, and people to a global blockchain-based economy. The platform wants to make native blockchain and cross-chain solutions accessible and effortless by bringing rapid-deployment solutions to the market with meaningful benefits and real-world impact for countries, businesses, and users. By building a future ecosystem of Ubiquitous Trust Networks, the next-generation layer-1 public blockchain infrastructure allows value to be transferred freely on and across blockchains, just as information moves freely across the internet. As a result, by harnessing digital assets, decentralised applications can be developed and deployed rapidly on its network. Blockchain technology has been rapidly adopted by many industries over the past decade, but mainstream adoption still remains a challenge due to the prevalent issues faced including issues with security, transparency, and scalability. Newcomers to the space like Zetrix are proving that these issues can once and for all be addressed, providing a much-needed step forward for this revolutionary technology.