Ethereum Adoption is About dApp Network Effect, Not Users 5809

Martin Köppelmann, the creator of decentralized marketplace Gnosis, has said that the adoption of Ethereum should be measured by the network effect of decentralized applications (dApps), not the number of users on the blockchain network. As a decentralized computing platform, the Ethereum blockchain network enables dApps and users to process data in a peer-to-peer and distributed manner. Users on Ethereum are not required to trust any intermediary on the network to initiate transactions or carry out operations with dApps.

Köppelmann, who created a major decentralized marketplace that has been competing against Augur, said that the adoption of Ethereum should be measured by the network effect of dApps and the ability of dApps to use the smart contracts of other applications on Ethereum to process information.

“The best metric of success for Ethereum is not how many DAPPs are deployed or how many transactions those DAPPs have. It is about how many DAPPs are created and used that use smart contracts from other dApps,” he explained.

As an example, decentralized exchange protocol 0x is a base layer which supports decentralized exchanges and relayers launched on the blockchain. The Ethereum-based 0x protocol is leveraged by a wide range of digital asset trading platforms such as Radar Relay, Paradex, Melonport, Maker, imToken, Aragon, and Augur, all of which use the 0x protocol to allow users to trade digital assets in a decentralized manner.

Coinbase co-founder and former Goldman Sachs trader Fred Ehrsam stated that protocols that enable dApps to share smart contracts and leverage the functionalities of other platforms on Ethereum allow for the creation of an ecosystem wherein users can benefit from the compatibility of dApps across a wide network.

For instance, because 0x protocol enables decentralized exchanges to operate on its base layer, potentially, exchanges can share a pool of liquidity that allows users across various decentralized exchanges to trade digital assets in a shared environment.

Köppelmann said:

“Few examples from Gnosis context: DutchX uses the MakerDAO price oracle; the 0x token registry and will be itself controlled by a Daostack DAO. Melonport uses Oasisdex… but many more are coming.”

If base layers like 0x and dApps such as OasisDEX and MakerDAO that offer specific functionalities that are beneficial to dApps in other categories continue to see an improvement on their network effect, a decentralized network of dApps will form, allowing many applications and platforms on Ethereum to benefit from each other’s unique and innovative solutions.

In essence, Köppelmann stated that the increase in the network effect and interconnectedness of dApps will be the main contributor to the mainstream adoption and long-term growth of Ethereum.

How About Users?

The number of users of dApps is an important metric but is a number that will naturally increase as the network effect of dApps, scalability of Ethereum, and user interface of dApps continue to demonstrate exponential growth and improvement.

If utilizing dApps to create bets on platforms like Gnosis and Augur, and using computing power of decentralized cloud networks like Storj become as easy as using centralized alternatives, then the active number of users on Ethereum will inevitably increase.

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Join the Plena Smart Wallet Referral Program and Win Big with $1,000,000 in PLENA Tokens! 2940

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Plena Smart Wallet, which is one of the first self-custodial wallets to support Account Abstraction is thrilled to unveil its hotly anticipated referral program that offers rewards worth up to $1,000,000 in $Plena tokens. The program aims to incentivize users to invite their friends and family to join the platform while offering them a chance to earn some significant rewards.

The rules are fairly simple and straightforward. To participate in the program, users simply need to share their referral link with their friends and family. Once a new user downloads the app and signs up through their referral link & successfully completes 3 Transactions on the Fantom chain, both the referring user and the new user will be earning 50 points each. Existing customers can make as many referrals as they like but they must be a new Plena App customer. This means that the more friends and family members you refer, the higher your chances of winning a significant reward.

The program has turned referrals into a game, where users can earn rewards in the form of $Plena tokens for each referral they make & track the leaderboard. ** Limited time offer** In addition to the exciting rewards for individual referrals, Plena Smart Wallet’s referral program offers users the opportunity to win even bigger rewards.The platform is giving away rewards worth up to $100,000 in $Plena tokens to the Top 100 on the leaderboard.

Plena Smart Wallet is a super-friendly self-custodial crypto wallet which offers native support for Account Abstraction. Its revolutionary approach to tackling persistent issues in the cryptocurrency market, such as poor user experience, is enhancing the accessibility of blockchain technology to the general public. Plena’s objective is to onboard the next billion users through its innovative smart contract wallet, which allows users to begin their cryptocurrency journey without requiring extensive knowledge of blockchain.

Say Goodbye to Poor User Experience and Hello to an Exciting Crypto Journey. Join the Next Billion Users Now!

Download The App Now: Playstore | AppStore

ODoge Solidifies its Place in Bitcoin and Memecoin History with Acquisition of First-ever DOGE Ordinal for 10BTC 3151

Every day in the crypto sector is marked by the advent of innovation. A recent innovation that has taken the crypto sphere by storm is the ‘Ordinals’. Within months of its inception, this unique invention has managed to allure a plethora of investors.

In January 2023, a renowned software engineer, Casey Rodarmor revived the lost glory of Bitcoin when he deployed the Ordinals Protocol on the Bitcoin Network. With this protocol, users can now create Non-fungible tokens (NFTs) on the platform. In simple words, Ordinals can be called ‘Bitcoin NFTs’.

Ordinal Dogecoin, the first-ever real memecoin on the Bitcoin blockchain, is pleased to announce to the oDOGE community that $oDOGE Emblem Vault has successfully acquired Ordinal Inscription #5768, the true first-ever DOGE on Bitcoin, in an OTC trade for the value of 10BTC in $oDOGE tokens, facilitated by a well-known Bitcoin OG and OTC intermediary.

The acquisition, which is the second-highest Ordinal sale to date, solidifies the $oDOGE token’s place in Bitcoin blockchain and memecoin history and is expected to fuel its growth and popularity in the coming months, forever marking a new era of Bitcoin meme culture.

Ordinal Inscription #5768, the first DOGE Ordinal EVER (as well as an extremely low mint Ordinal)

Ordinal Inscription #5768 will be held forever at the Emblem Vault address with the $oDOGE Logo Ordinal.

What does this mean for $oDOGE?

With the latest breakthrough, Ordinal Technology is expected to gain greater traction in the blockchain community, and $oDOGE is leading the way as a distinctive feature coin that is safe for mining, much like other well-known cryptocurrencies from JPEGs on Bitcoin and memecoin on Bitcoin Original. The blockchain compensates miners for their efforts by generating new Dogecoin each day.

The acquisition of the first ever DOGE ordinal for 10BTC by $oDOGE is a significant milestone in the development of the crypto sphere. It solidifies $oDOGE’s place in Bitcoin and meme coin history, and the team behind the token is committed to continuing to innovate and provide new features that meet the needs of its growing community.

A Quick Overview of oDOGE

The Ordinals Protocol, which was recently deployed on the Bitcoin Network, allows users to create non-fungible tokens (NFTs) on the platform. With the Ordinals Protocol, the $oDOGE token combines conventional and smart contracts on Ethereum to unlock the power of Bitcoin and create a distinctive feature coin that is gaining popularity in the crypto sphere.

The $oDOGE token has been fully fractionalized, wrapped, and integrated as an ERC-721 or ERC-20 token, allowing dApps and DEXes on ETH Miannet to interact with the original $oDOGE.

Moreover, Ordinal $oDOGE tokenomics is used to provide the token for tax and start liquidity. The token supply consists of 1,000,000,000,000,000 $oDOGand the users will pay a 0% tax while buying or selling $oDOGE.

In a quick recap of the first 5 days of oDOGE’s launch, 50% of the supply has been burnt, and 15 ETH in BURNED LP. $oDOGE saw a total of $30 million+ daily volume, with the total number of $oDOGE holders reaching 1,020.

oDODE has been gaining huge support from Bitcoin OGs, Memecoin OGs, and several blockchain influencers, and the oDOGE community is growing every day. Furthermore, with upcoming partnerships and marketing plans in the pipeline, oDOGE is set to reach newer heights in the coming weeks.

About the Project – Ordinal Dogecoin

Ordinal Dogecoin is a newly designed original memecoin created by combining ordinal and smart contracts on Ethereum. The ordinal technology unlocked the true potential of the Bitcoin Network in the way of $oDOGE. The $oDOGE is gaining popularity because of its unique features and secure transaction. It is designed by combining ordinal and smart contracts on Ethereum, which is entirely facilitated on the Bitcoin Blockchain.

Furthermore, potential investors and cryptocurrency enthusiasts interested in Ordinal Dogecoin can visit the project’s official website or check out their social platforms for more details.

https://odoge.co/

Chainlink Price Feeds Go Live on Base Testnet, New Ethereum L2 Incubated by Coinbase 3447

Today, Chainlink Price Feeds are live on Base testnet, a new Ethereum L2 incubated by Coinbase. Base aims to offer developers a secure, low-cost way to easily build decentralized applications. With this integration, developers building on Base can have access to industry-standard Chainlink Data Feeds and other web3 services.

Base will also be participating in the Chainlink SCALE program, designed to make Chainlink data and services available to developers at a lower cost. As part of the program, Base will cover certain operating costs of Chainlink services on its network, and reduce the gas costs incurred by Chainlink nodes when submitting oracle reports on Base.

“We’re super excited to launch Base with collaborators such as Chainlink, and to join the Chainlink SCALE program to empower developers with the critical data and services they need to build their applications,” said Jesse Pollak, Base lead.

Chainlink SCALE is an initiative centered around sustainably accelerating the growth of blockchain and Layer-2 ecosystems. Its focus is providing L1s/L2s with increased access to high-quality, low-cost, and in-demand oracle services by enabling them to cover the operating costs (e.g. transaction gas fees) of Chainlink oracle networks for a period of time. As blockchain/L2 ecosystems in the Chainlink SCALE program mature, the operating costs of oracle networks can increasingly transition toward being fully covered by dApp user fees.

“We’re thrilled to support the testnet launch of Base and work with them on the SCALE program to support the ecosystem growth and long-term adoption of the Base Layer-2 network,” said Niki Ariyasinghe, Global Head of Blockchain Partnerships at Chainlink Labs. “By reducing the operating costs of oracle nodes, Base will be able to bootstrap its ecosystem’s growth and become a more attractive environment for building secure and scalable Web3 apps.”

This deployment of resources will help Base become a secure and high-utility layer-2 solution in the Ethereum ecosystem, while giving its ecosystem developers a wide range of highly reliable oracle services for an extended period of time. This will set a foundation for Base to be able to support secure, fully featured, and highly performant applications.

About Chainlink

Chainlink is the industry-standard Web3 services platform that has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.

Bitpanda-backed Pantos Launches Public Beta of Its Multichain Token System 4096

Pantos, a multichain token system conceived by the team behind Bitpanda, announces the public beta launch of its multichain protocol today. Developers and users will be able to use the public beta to send tokens, wrap native coins of supported chains, and soon also create and deploy multichain tokens easily with a few clicks.

Pantos is introducing a new Multichain Token Standard called PANDAS (Pantos Digital Asset Standard) to bring a truly multichain token system to the masses, enabling secure and seamless Web3 interoperability. Pantos currently supports seven chains on testnet: Ethereum, Polygon, Avalanche, BNB, Cronos, Celo and Fantom; and plans to integrate more EVM and non-EVM chains continuously.

The majority of today’s Web3 applications and bridges lack the security and smooth user experience needed to bring Web3 functionalities to the masses. Pantos aims to improve this by offering a reliable infrastructure and the right tools to empower developers to easily create multichain assets.

Pantos began in 2018 as an in-house research project by Bitpanda in collaboration with TU Wien (Austria) and later also TU Hamburg (Germany) to establish an open standard for truly decentralized multichain token transfers and blockchain interoperability. The public beta comes out after years of ground-breaking research in the fields of oracles, relays, smart contracts and blockchain efficiency. Pantos together with its researchers at the universities run one of the largest blockchain research labs in the world, as part of the Christian Doppler Laboratory Blockchain Technologies for the Internet of Things and have been able to secure funding for the project from the Austrian government.

Eric Demuth, CEO and Co-Founder of both Pantos and Bitpanda, said “We are thrilled to introduce the public beta after years of research in collaboration with some of the most reputed universities in Europe. We believe that Multichain technology will be a catalyst for Web3 and foster widespread crypto adoption. Pantos offers users the simplest way to access a multichain Web3.”

Bitpanda’s business expertise helps Pantos with the transition from a research project to a fully-functional product available to end users and developers in a simple and accessible way. Bitpanda will also be one of the first adopters of Pantos’ multichain token system. Furthermore, Pantos has secured a partnership with the leading Austrian bank, Raiffeisen Bank International (RBI), that is working with Pantos on blockchain interoperability solutions. Pantos’ native token PAN is currently available for trading on Bitpanda and N26.

Researchers at Pantos are developing technology that will allow users to transfer digital assets of any kind freely between different blockchain protocols in a completely decentralized and trustless manner. Using the new PANDAS-20 standard, developers will be able to deploy assets on a variety of blockchains without maintenance work. Interested users or digital creators who lack coding skills will be able to deploy their own multichain tokens with ease.

Though it aims to eventually become a fully decentralized open-source protocol with PAN as its own gas token, the public beta of Pantos comes with a trusted validation mechanism to ensure a smooth launch. This way, the team will ensure that the network cannot be attacked in its early stages, before it gradually evolves into a fully decentralized system.

About Pantos

Started as a research project by the team behind Bitpanda in 2018, Pantos is an open-source protocol on a mission to make Web3 truly interoperable. It aims to become an enabler for sophisticated Web3 applications. Pantos’ cutting-edge technology allows existing and upcoming tokens to be deployed on multiple blockchain networks, giving users the freedom to choose the most suitable network for their digital assets. It had secured $12.1 million in funding through an Initial Coin Offering (ICO) on Bitpanda in 2018.

WEMIX PLAY’s First Fan Token MYRTLE exceeds 100m USD in market cap 3942

MYRTLE, the first Fan Token on WEMIX PLAY, exceeded 100m USD in market cap just one day after its minting.

Minted by the famous Philippines actress/blockchain game streamer Myrtle Sarrosa on the global no 1 blockchain gaming platform WEMIX PLAY, its initial price was 1WEMIX$ and market cap was 1000WEMIX$ on 27th Jan.

As of 1st Feb, it was traded at 13.6WEMIX$ and the market cap grew to 109m WEMIX$.

Fan Token is a new way for fans to support creators using blockchain technology. A performance-based tokenomics connects creators’ popularity with the rise of their tokens’ value, and both creators and fans can benefit from the result.

Users can buy and hold Fan Token to support their favourite creators. And creators get to manage their own Fan Tokens, minted by a high-water mark method. They can monetize it, share it with fans via airdrop, or use it for many activities including fan meetings and direct support to the communities.

High-water mark method, unlike usual tokenomics which automatically mint new tokens regularly, mints new tokens only when its 24-hour average price exceeds previous average price.

WEMIX will continue to collaborate with other creators to expand the Fan Token-based digital economy fan community ecosystem.

More information can be found on WEMIX PLAY official website. https://wemixplay.com/fan-token

About WEMIX

WEMIX is a blockchain gaming platform developed by WEMIX Pte. Ltd, providing services that include a cryptocurrency wallet, decentralised exchange, NFT marketplace, WEMIX token staking programme and the game gateway. WEMIX Pte. Ltd. is a subsidiary of Wemade, the developer and owner of “The Legend of Mir” IP, a highly successful game with over 500 million users. For more information, visit www.WEMIXnetwork.com

Web3 Payments SaaS Can Push Mainstream Crypto Adoption 4692

Today, the Fuse Network unveils Fuse 2.0. Aimed at taking on a significant challenge cryptocurrencies face on the road to mass adoption. Delivering a mobile-friendly technology stack to safely open new SaaS business models in Web3.

Existing digital payment rails execute billions of daily transactions. Fuse believes that offering a cheap, flexible, and simple solution to transact with every business on the planet will drive the usage of digital payments and cryptocurrencies further.

Fuse unveils a payments network focused on mainstream business adoption to enable companies that may need to be more technically or crypto-savvy to provide a blockchain-powered user experience that is simple, fast, and secure.

“To drive widespread adoption, we must focus on competing with the dominant players like Visa, Mastercard, and Stripe rather than Ethereum or any other blockchain. So we built a fully interoperable and open-source one-stop shop to help businesses uncover the value added from the decentralization of finance,” says Fuse Network CEO Mark Smargon.

Initially launching in 2019, years of working with ecosystem partners have allowed the Web3 payments company to build a robust network, create and provide Ethereum-level tooling tailored for business, and vitally learn which aspects of business are not desirable to decentralize.

Fuse 2.0 heavily concentrates on providing all aspects required for businesses to explore Web3 payments from the network to core business-ready infrastructure and white-label mobile wallets. Most importantly, outlining a network structure for Fuse 2.0 fit to scale Web3 payments by introducing the concept of Operators and Power Validators.

Scaling crypto adoption with everyday payments

Introducing the concept of Power Validators and Operators in the Fuse vision, Smargon highlights how this structure can drive long-term growth and provide decentralized, scalable Web3 business infrastructure that is easy to navigate and build.

The new structure divides the network into three layers served by merchants, Operators, and validators. The consumer layer consists of merchants building Web3 applications for their end users using the Fuse tech stack, specifically the Charge platform. Here, fee abstraction is a powerful tool to remove complex blockchain actions and give users a similar experience to what they are used to with Web2 finance apps like Venmo or Revolut.

To do that, transactions are processed, and fees are paid by Operators, not end users. This forms the business layer and, ultimately, the layer that can drive the mass adoption of crypto through regular Web3 payments.

The final piece of the puzzle is Power Validators. They supply the services Operators require to build functioning Web3 apps such as node infrastructure and oracles. The Operators purchase these services to resell them to their customers, filling the demand side.

One Operator already showcasing the power of the Fuse tech stack is Bitazza, with the Freedom Wallet being the centerpiece of the value proposition. The Freedom Wallet is a mobile wallet running on Fuse Network, built using Charge’s API, already used to fuel everyday crypto payments for several small to medium-sized businesses in Southeast Asia.

Fuse firmly believes the new approach can emphasize Operators like Bitazza, drive the next wave of adoption, and get crypto into the hands of new users without the speculative qualities. At the same time helping small to medium businesses become more competitive in the global economy.

Fuse will have a significant presence at this year’s ETH TLV, taking place between Feb 1st to 9th, as one of the key sponsors for the week’s festivities. During the week, Fuse will unveil its new branding, website, and overall mission via a live broadcast from Fuse HQ in Tel Aviv. In addition, Mark Smargon will reveal more on Fuse 2.0 throughout Q1 2023.

In line with the rebrand, Fuse released a new White Paper that charts a course toward a new era of innovation. This will be followed by the highly anticipated 2.0 Roadmap and detailed technical documentation for the developer community.

About Fuse Network

Fuse strives to be the most business-friendly blockchain ecosystem for the mainstream adoption of Web3 payments. Our approach to bringing crypto payments and DeFi to the masses involves empowering other projects, businesses, organizations, and communities to adopt crypto payments and decentralized finance (DeFi). Fuse Network is the decentralized EVM-compatible public blockchain that powers the Fuse platform and ecosystem.