Controversial Ethereum Network Clog Exposed: Chinese Crypto Exchange at Fault 591

You may have noticed something recently, transactions on the Ethereum network have been oddly expensive. MyCrypto has chalked up this suspicious rise in transaction fees to a good-for-nothing exchange, essentially incentivizing its users to push out thousands of transactions onto the Ethereum network. 

So-Called Gas Guzzlers Fill The Ethereum Network

Over the past few days, Ethereum has been seeing an abnormal increase in the cost of transactions. According to Etherscan, miners have been collecting an average of ten times more fees over the past 5 days in comparison with days of ‘normal’ network activity. 

 

Chart from Etherscan.io

Gas prices, which normally sit at around 5 Gwei, rose as high as 50 Gwei as users of the Ethereum network desperately tried to bring their transactions to the front of the pending transactions line. As a result, the average Ethereum transaction fee quickly rose from $0.2 to $3.5 within a matter of a short 48 hours, according to Bitinfo.

This abnormal increase came seemingly out of nowhere, with many users seeming confused about the source of these rising fees. As users began to investigate this unprecedented rise in fees, they began to realize that there was an abnormal influx of Erc-2o tokens being transferred to a relatively unknown exchange called FCoin. MyCrypto, founded by the creator of a similarly named wallet service, MyEtherWallet, took to Twitter to criticize the business practices of the aforementioned exchange.

The eight-part Twitter ‘rant’, ripped apart the practices which FCoin was enlisting. MyCrypto wrote:

As we’ve been looking into the recent network congestion / high gas prices, one of the more interesting things to come to light involves a random exchange (whom we will not name as this is likely part of their “PR strategy”)

Further addressing what exactly dubious actions FCoin was taking a part of in a different part of the Twitter thread.

The accused exchange, FCoin, incentivizes users to deposit tokens onto the exchange as a “mind-numbingly despicable voting” method of voting. Essentially allowing for users to issue hundreds, if not thousands, of deposits for a variety of different tokens, most of which are Erc-20 tokens.

These accusations don’t come without evidence, with blockchain data from the ‘Gas Guzzlers’ section of EtherScan showing a clear correlation between the top voted tokens on FCoin and the ‘Gas Guzzlers.’

To address increased fees, Binance has temporarily increased gas prices (Gwei) on Ethereum and ERC token withdrawals until fees return to a stable figure. The increased gas prices will be coming out of Binance’s pocket, ensuring that customers experience a consistent level of service even through a network clog.

#Binance has temporarily increased Gas price on withdrawals to 180 Gwei until the congestion on the $ETH network reduces.
Withdrawal fees will remain the same during this period. pic.twitter.com/LP4rwmIhxB

— Binance (@binance) July 2, 2018

Although rising fees have begun to subside, many expect for increased fees to continue over the next few days, as FCoin doesn’t plan on ending the ‘voting’ process until July the 6th.

Although this is by no means the fault of the Ethereum developers, this situation shows how important and valid the scalability debate is. With many community members still holding hope for upcoming Ethereum scaling solutions, like sharding, that will allow for a higher transaction throughput for the world’s largest smart contract platform.

 

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TRON Breaks the 100 Million Users Mark, Celebrates Mainnet 4th Anniversary, and Announces Huge Hiring Push Amid Market Meltdown 1578

TRON

Geneva, Switzerland / June 28 / – TRON user accounts have reached 100,048,526, officially breaking the 100 million ceiling, according to data from the blockchain browser TRONSCAN, as of June 25. On the same day, TRON Mainnet celebrated its 4-year anniversary since network independence.

Launched in May 2018, the mainnet of TRON is one of the three major public chains worldwide and remains committed to building the infrastructure for the decentralized internet. As a result, TRON has become one of the world’s largest and longest-running blockchain platforms.

TRON integrated BitTorrent into its ecosystem in July 2018, a pioneer in peer-to-peer file-sharing protocol and Web3 services. Its distributed technology allows creators and consumers to have autonomous control over their content and data while being innovative and highly scalable, with more than 170 million monthly active users.

Since 2021, TRON has substantially grown its presence in the NFT sector. In March 2021, the TRON-based TRC-721 NFT standard was established, which helped improve one of the world’s largest distributed storage systems, BitTorrent File System (BTFS), to support NFTs and blockchain-based assets. The community has since built a comprehensive infrastructure and partnered with GameFi and NFTFi projects deploying on the TRON blockchain, such as APENFT Marketplace and WIN NFT Horse.

Currently, the total number of transactions on TRON has exceeded 3.4 billion, the daily transfer volume of stablecoins has surpassed $10 billion worth of U.S. dollars on multiple occasions, and the daily settlement stands at least five times that of PayPal. TRON has no doubt already established a leading global clearing infrastructure layer. More recently, the TRON DAO Reserve was founded in May 2022, guiding the world’s first over-collateralized decentralized stablecoin USDD and providing 24/7 transparency on real-time collateralization.

TRON dApps have seen tremendous expansion during the past few years. TRON now boasts one of the largest dApp ecosystems in the world and commands a leading position in areas such as stablecoins, DeFi, NFT, and distributed storage, among others.

After four years of sustained growth, TRON DAO is also thrilled to announce that our team is further expanding, offering a unique opportunity – to work directly with a Layer 1 Blockchain and touch every corner of our industry. The company has a fun, diverse, and challenging work environment that fosters creativity, efficiency, and teamwork.

TRON continues to thrive amidst a market for rescinded job offers and staff cuts. Despite the volatile market, TRON is taking this opportunity to scale up and align its internal culture around a set of shared values that remain driven and forward-thinking as they enforce its mission to accelerate the decentralization of the internet via blockchain technology and decentralized applications (dApps).

Join us and help BUIDL the future of Web3! View open positions here.

About TRON DAO

TRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of June 2022, it has over 100 million total user accounts on the blockchain, more than 3.4 billion total transactions, and over $9.2 billion in total value locked (TVL), as reported on TRONSCAN. In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently, the over-collateralized decentralized stablecoin USDD was launched on the TRON blockchain, backed by the first-ever crypto reserve for the blockchain industry – TRON DAO Reserve, marking TRON’s official entry into decentralized stablecoins.

TRONNetwork | TRONDAO | Twitter | YouTube | Telegram | Discord | Reddit | GitHub | Medium | Forum

Media Contact
Feroz Lakhani
[email protected]

Manchester City Digital Collectibles Capture Thrilling Premier League Finish, Driving A Surge in Sales 1882

Manchester

June 23rd, New York: In May, Quidd and Manchester City collaborated to release the first-ever interactive, 3D digital collectibles, featuring key moments and players from the club’s title-winning Premier League season. Quidd offers brands a seamless platform to launch digital collectibles and NFTs, and Manchester City chose to launch on Quidd as a digital collection to give access to their entire fanbase. Collectors and club supporters responded positively to the release, selling out sets in minutes, and driving certain collectibles to trade for over $1,500 in Quidd’s aftermarket.

Fueling the excitement was the dramatic finish to the Premier League season on Sunday, May 22nd. With less than 15 minutes to go in Manchester City’s final match, the club was down 0 – 2 as all signs pointed to a rival club taking home the Premier League trophy. However, Manchester City scored an unheard of three goals in under six minutes to win the match and secure their 6th Premier League title.

Quidd, in collaboration with Manchester City, capitalized on this dramatic victory in real-time, releasing a series of 3 ultra-rare hidden digital collectibles, called “shinies”, commemorating the three goals scored in the final match. These items, featuring two goals by Ilkay Gundogan and one goal by Rodrigo, have been instant collector’s items, propelling the Manchester City collection to dominate the Quidd market, outpacing sales from Disney and the NBA.

“Beyond how incredible these collections were, to begin with, it was thrilling to be able to reward Man City fans and collectors with unique cards that reflected the epic things happening in real-time,” said Sam Barberie, VP of Content at Quidd.

“Right after that incredible Premier League finale, fans got access to items that celebrated the moment. Exclusively with digital collectibles can fans get something that reflects, specifically, the goals that clinched the win or the lift of the Premier League trophy.”

And it’s not over yet. The excitement around 3D digital collectibles that celebrate key players and moments doesn’t end with items commemorating the Trophy Lift or the incredible goals that secured the title. In July, Quidd will release exciting new digital collectibles highlighting the recent signing of Erland Haaland, so stay tuned.

About Manchester City Football Club

Manchester City FC is an English Premier League club initially founded in 1880 as St Mark’s West Gorton. It officially became Manchester City FC in 1894 and has since then gone on to win the European Cup Winners’ Cup, six League Championship titles, including four Premier League titles (2012, 2014, 2018, 2019), and six FA Cups. Manchester City FC is one of ten clubs comprising the City Football Group and counts New York City FC and Melbourne City FC among its sister clubs.

Under manager Pep Guardiola, one of the most highly decorated managers in world football, the Club plays its domestic and UEFA Champions League home fixtures at the Etihad Stadium, a spectacular 55,000-seat arena that City has called home since 2003. Today, the Stadium sits on the wider Etihad Campus, which also encompasses the City Football Academy, a state-of-the-art performance training and youth development facility located in the heart of East Manchester. Featuring a 7,000 capacity Academy Stadium, the City Football Academy is also where Manchester City Women’s Football Club and the Elite Development Squad train on a daily basis and play their competitive home games

About Quidd

Quidd, a subsidiary of Animoca Brands, is the original digital collectibles and NFT marketplace. For over five years, Quidd has worked with the world’s most prominent brands including Disney, HBO, Funko, and over 300 others in bringing fan-first collecting to digital and blockchain platforms. The Quidd marketplace is the most innovative, robust, and accessible platform for digital and NFT collecting experiences. Visit https://market.onquidd.com and find the apps here.

Media Contact: Arooba Niazi: [email protected]

Todd Goldman and PopCulture, Inc. Partner With Quidd for Mintable Collections 1949

PopCulture

June 27th, 2022, New York: Todd Goldman and PopCulture, Inc. have partnered with Quidd, the original digital collectibles and NFT marketplace, owned by Animoca Brands, to bring multiple new mintable NFT collections.

Quidd, founded in 2016, is the first marketplace built for buying and selling limited-edition, individually serialized digital collectibles, and NFTs. With its unique mintables technology and easy-to-use platform, Quidd brings accessible digital and NFT collecting to mass audiences.

Todd Goldman is an American artist that prides himself in being unpolished, politically incorrect, and laugh-out-loud funny through his art. His simplistic childlike paintings and light humor is what have made Todd and his licensing merchandise company a huge success among every age group. Todd’s unapologetic irreverent humor and cartoon pop art are like nothing else out there, which is quite refreshing in today’s gutless, cancel-culture society.

Goldman’s partnership with Quidd allows him to bring his art to digital collectibles and NFTs for the first time. The pop artist offers a unique artistic sensibility combined with clever humor and fun imagery. With an impressive 20+ year art career, Todd’s irreverently fun brand is clearly adored by his fans.

“Todd’s style is so incredibly friendly, but when you look closer you see the wink-wink fun that he plays with, debating our notions of what this kind of IP looks like and how fans interact with it,” said Sam Barbeire, VP of Content at Quidd.

“I have a dry sense of humor and wanted to do something different that no one else was doing in the art world. Obviously, I’m no Rembrandt, so instead, I try to make people laugh through my art,” said Todd Goldman when asked about his art style.

“Todd is the greatest artist of this generation.” Todd’s dog, Muppet – He made me say that and threatened to take away my treats otherwise.

The first drop, Underwearimals, debuts in June and will feature a new collection from Todd, which includes animals in their tighty whiteys. Yes, even animals wear underwear…well, in Todd’s world they do.

About Quidd

Quidd, a subsidiary of Animoca Brands, is the original digital collectibles and NFT marketplace. For over five years, Quidd has worked with the world’s most prominent brands including Disney, HBO, Funko, and over 300 others in bringing fan-first collecting to digital and blockchain platforms. The Quidd marketplace is the most innovative, robust, and accessible platform for digital and NFT collecting experiences. Visit https://market.onquidd.com and find the apps here.

About Todd Goldman

Todd, like everyone else, had a childhood dream. His dream was to become a Brazilian Olympic figure skater. But unfortunately for Todd, he wasn’t Brazilian and didn’t know how to ice skate. That and Brazil didn’t even have an ice skating team. Sure Todd looked great in sequin tights, but he had to hang them up for the time being, and find something else to do with his life.

But Todd always knew he was special. Not “wear a helmet and ride the short bust” special, just special in a unique kind of way. And that uniqueness was reflected in Todd’s humor and drawings. So that’s what Todd did, he became an artist. A different kind of artist…One that makes people laugh with his art. And believe it or not people actually took a liking to it. So much that Todd’s art can be seen on all kinds of cool products. From t-shirts and mugs, to pajamas and greeting cards, to pillows to tote bags, and soon to be NFT’s.

In addition to merchandise, Todd’s paintings and prints are sold in art galleries all around the world. Plus, Todd has over 40 books published and several animated TV shows and movies in development. So as you can see Todd keeps himself busy. Sure, Todd sometimes ponders what his life could have been as a Brazilian figure skater…but honestly, he is quite happy making people laugh with his art. And yes, Todd still wears his sequin tights around the house.

About PopCulture, Inc.

Pop Culture, Inc. is a Web3 company focused on providing IP and content for digital and metaverse spaces. Pop Culture, Inc was started by the founders of the Los Angeles Comic Con, Los Angeles’ premier comic, anime, cosplay, and gaming convention. Pop Culture, Inc is working on incorporating NFT collectibles for the Comic-Con Metaverse, as well as other Web3 Spaces such as Binance, Opensea, and Quidd. Visit https://nyaching.com/ for more information on Nyaching.

Cristiano Ronaldo and Binance Team Up For a Legendary NFT Partnership 1551

Binance Team beyond excited to announce exclusive multi-year partnership with Portuguese football legend Cristiano Ronaldo.

The five-time Ballon D’or winner is joining forces with Binance to provide a one-of-a-kind experience for football fans worldwide, with a series of NFT collections that will launch exclusively on Binance’s official NFT platform. Registered Binance users in select countries will also be able to purchase the collections using Binance Pay.

The first collection, slated to launch later this year, will feature iconic designs created in collaboration with Ronaldo. “My relationship with the fans is very important to me, so the idea of bringing unprecedented experiences and access through this NFT platform is something that I wanted to be a part of,” said Ronaldo. “I know the fans are going to enjoy the collection as much as I do.”

Through this partnership, Binance is taking the sports fandom experience to unprecedented levels. Moreover, it will build on existing partnerships with the Argentine Football Association, the Brazilian Football Confederation, and professional sports clubs S.S. Lazio (IT) and FC Porto (PT).

“Cristiano Ronaldo is one of the world’s best footballers, and has transcended sport to become an icon in multiple industries. He has amassed one of the world’s most dedicated fan bases through his authenticity, talent, and charity work,” said Binance Founder and CEO “CZ” (Changpeng Zhao). “We are thrilled to provide his fans with exclusive engagement opportunities to connect with Ronaldo and own a piece of iconic sports history.”

To all the NFT, football, and Cristiano Ronaldo fans, this is only the beginning of what’s to come.

NFTuloan Set To Become The Bank Of The Metaverse 2706

 

loan

The ground-breaking NFT platform is the world’s first Defi protocol for loans and lending on the market, developed mainly to address the issue of frozen assets in the digital space

NFTuloan is set to become the bank of the metaverse, thanks to its recent positioning that will enable it to instantly facilitate loans to all digital assets.

Developed mainly to address the issue of frozen assets in the digital space, the ground-breaking NFT platform relies on an unconventional loaning and lending system to help NFT/Crypto enthusiasts grow their portfolios and earn more money.

“We want to empower NFT collections to leverage their assets and increase their growth opportunities, so they can develop a larger portfolio in the NFT market.”

With NFTs taking centre stage in the global financial market, including predictions of up to billions in transactions, nearly all businesses and investors are searching for new creative ways to take advantage of the interesting new technology.

As such, NFT creators and traders who desire to remain relevant need liquidity to purchase more NFTs and keep their portfolios up to date. And according to NFTuloan, using one’s NFT to bring liquidity to one’s wallet, which is then re-invested in NFTs, is the cleverest way to manage a portfolio.

Through the use of its new system, NFT/Crypto investors can easily and instantly discover flash loans for all digital assets, ranging from Art and Collectibles to Domain names, Music, Photography, Sports, Trading cards, Utility, Virtual worlds, etc.

After connecting a wallet to the blockchain ecosystem, an investor who desires instant liquidity of an NFT simply needs to estimate the NFT’s value, and define the duration between 1h to 30 days. The system will assess the application within seconds, and send the approved ETH directly into the user’s wallet.

NFTuloan insists that by giving investors and creators the power to instantly liquidate their collections, they will be able to increase their trading volume, and make more profit on the secondary market.

The fully on-chain system assures users of instant NFT estimation, instant funding, as well as really low interests, all neatly woven to efficiently guarantee instant liquidity.

Although both rounds of its Private Sale have been sold out, investors eager to join the NFTuloan community can access its upcoming exclusive mint drop, scheduled to open on the 26th of June 2022, via the following link: https://www.nftuloan.com/genesis-access-pass/

Anyone interested in learning more about this revolutionary new platform can visit its website, or reach out directly to NFTuloan via the contact info below.

Website: https://www.nftuloan.com/

Twitter: https://twitter.com/nftuloan

Ternoa, First NFT-Centric Blockchain, Releases Mainnet Setting to Disrupt NFT Economy 3218

Ternoa is a layer 1 open-source blockchain ecosystem that facilitates the adoption of utilitarian NFTs by giving developers full technological stack, access to independent infrastructure, nodes, developers’ community, and funding. The project is guided by principles of security and ownership, made possible with a combination of decentralization and encryption.

Since 2021, the role of NFTs has transformed dramatically: from mere cultural assets to building blocks that allow developers to incorporate utility in the next generation of decentralized applications and Web3 NFT-based projects. As exciting as this evolution is, it also comes with challenges for programmers such as the need to learn a new language, high infrastructure costs, and difficulties accessing relevant information for newcomers. These obstacles are particularly prominent for NFT utility-based projects, as most blockchains rely upon complex smart contracts to build standalone use cases.

“On most blockchains, building NFT dapps can prove at best cumbersome, at worst complex. Ternoa is designed to break barriers for developers and empower them to save time and money. Mass adoption of NFTs is only possible with a fundamental tech evolution,” Mickael Canu, Co-Founder & CEO of Ternoa.

Ternoa just deployed Mainnet as a ready-to-use version of the blockchain network with an NFT-first mindset. The first-phase of Mainnet marked successful implementation of native CAPS, nodes, and governance features to the multi-chain network. With this foundational step, developers can already experiment with concepts using the JS SDK, allowing them to build dapps and scale their Web3 projects using Ternoa to cut costs and save time.

In addition, an entire range of tools has been developed and launched over the last few months to help user adoption: an explorer for users to monitor transactions, a status page to watch real-time status of Ternoa networks, a wallet to interact with native Capsule Coins and NFTs, and a Token bridge for erc20 holders to swap their CAPS to native and use the blockchain. To ensure a maximum security to users, the infrastructure was successfully pentested by Hacken, and the Token bridge has been audited by Chainsulting.

“Reaching this milestone is a crucial step for Ternoa and all teams working tirelessly to make Mainnet happen. We’re proud to offer an open-source specialized NFT infrastructure and easy-to-use JS SDK to accelerate adoption of NFTs by developers across the world,” Mickael Canu, Co-Founder & CEO of Ternoa.

Now, blockchain developers can save time and program faster, leveraging Ternoa’s highly secure, scalable, Metaverse-ready infrastructure. With more developer-friendly features to be released in the subsequent phases, Ternoa actively expands their community of builders. This fast-growing project is set to disrupt the NFT economy by making next-generation NFTs easy-to-build on the blockchain. Early contributors who joined the Ternoa ecosystem already started developing first dapps with many going live on Mainnet in the upcoming months.

Ternoa looks forward to working alongside early adopters of the NFT-first blockchain and invites developers to join their Discord community, contribute, and build upon its open-source infrastructure.

If you want to learn more about this fast-growing project, attend Ternoa CEO Mickael Canu’s keynote at NFT.NYC 2022 for more big announcements.

About Ternoa

Ternoa is a layer 1 open-source blockchain ecosystem that facilitates the adoption of utilitarian NFTs by giving developers full technological stack, access to independent infrastructure, nodes, developers’ community, and funding.