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On-chain data shows the Polygon network growth has been rising while the price has consolidated, a divergence that may be bullish for the price.
Polygon Network Growth Has Been Trending Up Recently
As pointed out by an analyst on Twitter, a bearish divergence in the indicator also formed a while ago that ended up taking the price down 40%. The “network growth” is an indicator from the on-chain analytics firm Santiment that measures the total number of new Polygon addresses.
The indicator works by looking at the blockchain data to see which addresses are making their first-ever MATIC transactions. Such addresses are considered “new” and the metric adds them to its value.
When the value of this metric is high, it means a large number of new addresses are becoming active on the network right now. Generally, new addresses are assumed to be coming from new users joining the network, and hence, a high value of this metric can be a sign of rapid adoption of the cryptocurrency.
On the other hand, low values of the indicator imply the blockchain isn’t observing many new users coming in currently. This kind of trend can suggest the adoption of the asset may be losing traction.

Now, here is a chart that shows the trend in the Polygon network growth over the last few months:


As shown in the above graph, the Polygon network growth had been on an overall downtrend earlier in the year. This means that the total number of new users joining the network every day was constantly going down. While this was happening, however, the price of the cryptocurrency was rapidly moving up.

A decent growth in the user base is ideal for the fundamentals of any network and can be bullish for the asset’s value in the long term. But as the price move earlier in the year accompanied a declining growth in new users, the rally was perhaps not sustainable.
After this negative divergence between the indicator and the value of Polygon formed, the asset saw a sharp drawdown of about 40% in its price and hit some relatively low levels.
Since this drop, the price has been mostly moving sideways. The MATIC network growth, however, has shifted towards observing a constant upwards momentum.
This uptrend in the metric implies the user base is growing at a rapid pace at the moment. As already mentioned earlier, adoption like this can be constructive for the network in the long term as it provides a solid base for sustainable growth.
Since the price and the indicator have once again diverged recently, the asset could again see some impact from this. But since the divergence is a bullish one this time, the analyst thinks that it may result in an upswing for Polygon.
MATIC Price
At the time of writing, Polygon is trading around $1.1, down 1% in the last week.





On-chain data shows the Polygon network growth has been rising while the price has consolidated, a divergence that may be bullish for the price. Polygon Network Growth Has Been Trending Up Recently As pointed out by an analyst on Twitter, a bearish divergence in the indicator also formed a while ...

bitcoinist.com

Polygon (MATIC) Network Growth Metric Forms Bullish Divergence


Blockfence, a security aggregation provider, has teamed up with Forta Network, a decentralized monitoring network specializing in Web3 threat detection and prevention. 



This collaboration aims to improve the security of Web3 users by identifying suspicious Ethereum smart contracts using Forta’s monitoring platform. As a result, Blockfence users will be better protected from potential losses caused by wallet drainers, phishing, and other scams.



The partnership involves a thorough examination and mapping of the Web3 ecosystem, including both on-chain and off-chain data. Blockfence enhances this data with layers of security analysis, applying in-house techniques and strategic collaborations such as the integration with Forta Network.



Since the start of March 2023, the Forta integration has identified 1009 malicious smart contracts using the BlockFence Chrome extension that users have interacted with. Out of these contracts, 83 high and critical alerts were exclusively detected by Forta as follows:



Low risk: 832



Medium risk: 67



High risk: 105



Critical risk: 7



An analysis of the correlation between Forta’s findings and the Web3 Mapping conducted by Blockfence revealed that 58.5% of all smart contracts deemed malicious share similar patterns with those flagged by Forta. This suggests that scammers frequently create forks of malicious contracts to repeatedly execute similar fraudulent schemes based on prevailing trends.







Forta’s findings over Blockfence Web3 mapping



By incorporating Forta Network’s monitoring layer into Blockfence’s core product, users gain access to real-time threat protection. The Blockfence browser extension, which is free, open-source, and anonymous, allows users to utilize Forta Network’s threat detection capabilities without connecting their wallets.



When users with the Blockfence browser extension attempt to approve a transaction in their wallets, they are alerted to potential threats, enabling them to make informed decisions and ensuring a more secure user experience.




“We are excited to partner with Forta Network to offer our users even more advanced protection against threats to their digital assets,” said Omri Lahav, CEO of Blockfence. “Our advanced web extension combined with Forta Network’s real-time threat detection will enable users to feel confident interacting with Web3 assets.”




Andy Beal, Forta Foundation’s Ecosystem Lead, said: “We’re excited to bring Forta’s market leading threat intel to Blockfence and protect more end users from phishing attacks and other scams. By lending mission critical monitoring tools to Web3 security infrastructure projects like Blockfence, the space will become a safer place for all.“



About Forta Network



The Forta Network is a real-time, decentralized network providing detection services and security monitoring across seven blockchains. Forta detects threats and anomalies on DeFi, NFT, governance, bridges, and other Web3 systems in real time, enabling protocols and investors to react quickly and proactively neutralize threats to prevent or minimize the loss of funds. Launched in 2021 and backed by a16z, Forta protects the critical infrastructure of Web3 through a decentralized and community-run network, which serves as an early warning system to projects and protocols across the ecosystem.



For more information visit here.



About Blockfence



Blockfence is a security aggregation and abstraction infrastructure. Blockfence provides end-to-end users protection with fraud detection on all levels, from the blockchain to the user interface, using advanced machine learning algorithms and community aggregated data. 



For more information visit here.
The post Blockfence And Forta Network Collaborate To Enhance Web3 Users’ Security appeared first on BeInCrypto.


Blockfence, a security aggregation provider, has teamed up with Forta Network, a decentralized monitoring network specializing in Web3 threat detection and prevention. This collaboration aims to improve the security of Web3 users by identifying suspicious Ethereum smart contracts using Forta&#821...

beincrypto.com

Blockfence And Forta Network Collaborate To Enhance Web3 Users’ Security

Although the testnet for layer-2 technology of Shiba Inu, Shibarium, is only a few days old, it has seen significant growth and adoption by the community in just a short period of time. SHIB influencer Lucie drew attention in a tweet to the fact that the beta test network for Shibarium, Puppynet, has reached the important milestone of 100,000 wallets yesterday.

Congratulation! https://t.co/DzdCVKZg7U crossed 100k wallets!!! #Shibarium x $BONE it will be wild  pic.twitter.com/SvkWZZgSHx
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) March 30, 2023

The SHIB Army member is referring to the blockchain explorer for the latest technology of Shiba Inu: https://puppyscan.shib.io/. The testnet was relaunched on March 24 following plagiarism allegations surrounding Shibarium which led the developers to change the chain ID from 917 to 719.
As Bitcoinist reported, voices surfaced in the Shiba Inu Discord two weeks ago that suspected a shortcut by Shibarium’s developers due to the same chain ID used by the lesser-known Rinia blockchain. The chaos worsened when former developers, who have since been laid off before, raised their voices and also reported unexplained changes to the code.
The developers, as well as the numerous projects based on Shiba Inu, have apparently not been affected by these rumors. Although the statistics were reset after the chain ID change, the metrics have reached new highs yesterday.

While the Shiba Inu Puppynet had only 713 transactions on launch day, volume grew to 41,688 transactions on March 27 and 144,458 transactions on March 28. Yesterday, Wednesday, the transaction volume dropped precipitously to 3,118 transactions.
Despite that, the number of wallets has increased just as rapidly as the transaction volume. At press time, there were already 101,139 wallets. The network has now processed a total of 195,377 transactions in 156,513 blocks. The average block time was 5.0 seconds.
Shiba Inu Takes Big Steps Forward
Already in the last few days, numerous remarkable advances and the growth of Shibarium have become apparent. Shytoshi Kusama, the chief developer of Shiba Inu, revealed that 500 validators have expressed their interest in joining the network.

In addition, Unification, the developer of Shibarium, announced that it is working on an innovative wallet for Shibarium. The wallet is an all-in-one solution that enables two-way asset transfers between the first and second layers, as well as includes staking/delegating and a Shibaswap integration.
As Lucie recently explained, anyone can join Puppynet as a validator. To become a Shibarium validator on the testnet, users must stake at least 10 BONE – these are Test-BONE and ETH on the Ethereum Goerli test network and can be requested from the faucet.
At press time, the price of Shiba Inu (SHIB) was trading at $0.00001062, registering a retest of the descending trendline after breaking out. Remarkably, the downtrend has been in place since early February. To confirm the breakout, a move above $0.00001162 is crucial.




Although the testnet for layer-2 technology of Shiba Inu, Shibarium, is only a few days old, it has seen significant growth and adoption by the community in just a short period of time. SHIB influencer Lucie drew attention in a tweet to the fact that the beta test network for Shibarium, Puppynet,...

Shiba Inu Testnet For Shibarium Surpasses This New Major Milestone



The cryptocurrency market has seen a renewed wave of optimism in 2023, particularly with the emergence of new cryptocurrencies aimed at solving real-world problems that have persisted for decades.
Among the companies leading this movement are Script Network (SCPT), SingularityNET (AGIX) and Stacks (STX), which offer innovative solutions to address some of the most pressing issues in various industries.
Script Network (SCPT) is a layer one video protocol that focuses on solving the problem of high video delivery costs, lack of rewards to TV viewers and insufficient payments to filmmakers.
Powered by the Script Blockchain, Script TV offers decentralized bandwidth and content-sharing incentives at a more affordable rate than conventional service providers.
With a watch-to-earn economy model, users can earn tokens and other rewards while watching content.
Script Network’s solution not only benefits the TV industry but also has wider implications for enterprises that seek to reduce video delivery and storage costs while incentivizing content creation.
SingularityNET (AGIX) is a blockchain-based AI project built on the Cardano network that addresses the fragmented emerging AI market with little to no practical use for companies and users.
AGI refers to any learning machine solution with the capacity to learn and carry out a vast range of tasks otherwise completed by humans.
The SingularityNET platform offers numerous AI products, including an AI marketplace, publisher and machine learning software. Its aim is to provide practical and sustainable solutions that will benefit the entire AI industry and foster innovation.
The STX cryptocurrency platform is designed to address the complete destabilization of the world banking system and the lack of trust in it. Stacks integrates smart contracts and DApps (decentralized apps) into the Bitcoin (BTC) network, making it possible to create trustless solutions to develop, store and create value at scale.
A stable and secure network is ensured by using BTC to create Stacks’ utility token. Stacks’ innovative solution enables the development of sustainable protocols built on Bitcoin, which has been a requirement in the market for over a decade.
In working together, Script Network (SCPT), SingularityNET (AGIX) and Stacks (STX) have the potential to bring significant change to various industries.
By leveraging their respective expertise in video delivery, AI and blockchain technology, these companies can offer practical and sustainable solutions that address real-world problems at scale.
With Script Network’s innovative layer one video protocol, SingularityNET’s advanced AI solutions and Stacks’ robust cryptocurrency platform, these companies can collaborate to provide cutting-edge technology solutions that have the potential to revolutionize various industries, including TV, AI and finance.
As they continue to work together, the future looks bright for these companies as they aim to foster innovation, improve people’s lives and bring positive change to the world.
For more information on these companies and their upcoming developments, visit their respective websites here, here and here.
About Script Network (SCPT)
Script Network is a layer one video protocol that aims to solve issues related to high video delivery costs, lack of rewards to TV viewers and insufficient payments to filmmakers.
Its mission is to provide decentralized bandwidth and content-sharing incentives at a more affordable rate than conventional service providers.
About SingularityNET (AGIX)
SingularityNET is a blockchain-based AI project built on the Cardano network that aims to address the fragmented emerging AI market.
AGI refers to any learning machine solution with the capacity to learn and carry out a vast range of tasks otherwise completed by humans.
About Stacks (STX)
Stacks is a cryptocurrency platform that aims to address the complete destabilization and lack of trust in the world banking system.
Its innovative solution integrates smart contracts and DApps into the Bitcoin (BTC) network, enabling trustless solutions to develop, store and create value at scale.
This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.

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The post Script Network, SingularityNET and Stacks Bring Practical Solutions to Real-World Issues appeared first on The Daily Hodl.


The cryptocurrency market has seen a renewed wave of optimism in 2023, particularly with the emergence of new cryptocurrencies aimed at solving real-world problems that have persisted for decades. Among the companies leading this movement are Script Network (SCPT), SingularityNET (AGIX) and Stack...

dailyhodl.com

Script Network, SingularityNET and Stacks Bring Practical Solutions to Real-World Issues

According to current statistics, the Bitcoin network is fewer than 56,000 blocks away and less than 400 days away from the next reward halving. After the next halving, the block reward will be reduced by 50%, and the current block subsidy of 6.25 bitcoins will drop to 3.125 bitcoins per block post-halving. In addition to the Bitcoin halving getting closer, the Litecoin network is expected to see a block reward halving this year on or around August 3rd.
Bitcoin Reward Halving Inches Closer; Litecoin Expected to Slash Its Block Reward in August
As of March 29, 2023, there are 395 days left until the next Bitcoin halving, which is scheduled to occur anywhere between April 21-28, 2024, at a block interval speed of ten minutes per block. At present, there are fewer than 56,000 blocks left to mine until the block reward subsidy is cut in half. Depending on block time speeds, the estimated date for April could change.

The Bitcoin network halves its block reward every 210,000 blocks mined, and if blocks are mined at an average rate of around ten minutes, every halving takes place roughly every four years. The first halving took place on Nov. 28, 2012, at block height 210,000. The next reward halving occurred on July 9, 2016, and another took place on May 11, 2020. After the April 2024 halving, the fifth halving is expected to occur in 2028.
Using today’s BTC exchange rates, the current reward of 6.25 BTC, not counting network fees, is just over $177,000 per block. If the price of BTC remains the same when the reward halves to 3.125 bitcoins, the block reward would be valued at $88,500 per block. Of course, bitcoin miners and network participants expect BTC’s price to increase by the time the next halving occurs.

Regardless of BTC’s price at the time, miners’ revenues will be cut in half, and they will have to adjust accordingly. Bitcoin’s inflation rate per annum is currently 1.71%, and after the next halving event, it will drop to 0.84%. Over the last 2,016 blocks mined, metrics show the network’s average hashrate was around 338.3 exahash per second (EH/s), and just recently, the hashrate reached 400 EH/s.

While Bitcoin’s halving is expected to happen in less than 400 days, Litecoin’s reward halving is estimated to occur this year. According to current LTC block times, the Litecoin network will halve on Aug. 3, 2023. Litecoin rewards will be reduced from 12.5 LTC to 6.25 LTC, and there are roughly 11.4 million LTC blocks left to mine. Although it’s not quite a halving, the Dash network is expected to see a reward reduction in 84 days, according to current statistics. After the reduction, the reward will shrink from 2.763 DASH to 2.566 DASH.
What do you think about the Bitcoin blockchain’s upcoming halving? Let us know what you think about this subject in the comments section below. 





According to current statistics, the Bitcoin network is fewer than 56,000 blocks away and less than 400 days away from the next reward halving. After the next halving, the block reward will be reduced by 50%, and the current block subsidy of 6.25 bitcoins will drop to 3.125 bitcoins per block pos...

news.bitcoin.com

Bitcoin Halving Approaches: Less Than 400 Days Until Block Reward Subsidy Is Cut in Half

In a new report, a cross-chain liquidity protocol THORChain has stopped trading activities on its mainnet due to a potential network vulnerability. By taking this proactive step, the protocol may be among some cases that eluded hackers’ exploits. 
Hackers usually seek vulnerabilities in crypto networks to exploit them. This was the case with Euler Finance which recorded the largest DeFi exploits in 2023.
THORChain Mainnet Might Be At Risk Of Exploit
The protocol announced the report on Twitter today, March 28. The team discovered reports on vulnerability with a THORChain dependency that could put the mainnet at risk.

As such, the team stopped all trading activities on the network to protect its users against the issue and to verify the report. 
Before the announcement, a post on Twitter revealed that THORChain’s liquidity platform Nine Realms and THORSec had earlier received valid reports about the issue. Pluto (9R) also disclosed that the team had taken steps to halt the mainnet operations worldwide. 
In response to Pluto (9R), Nine Realms stated that the reason for halting the activities on the THORChain mainnet is to investigate if the report is accurate. It also promised that users would get updates as the investigation proceeds. 
Brief On THORChain And Network Issues
THORChain is a decentralized cross-chain liquidity protocol that emerged in 2018. Users of the network can swap assets between blockchains without a centralized exchange. 
The eight blockchains THORChain supports include Ethereum, Bitcoin, Cosmos Hub, Binance Chain, Bitcoin Cash, Dogecoin, Avalanche, and Litecoin. 
Notably, this is not the first time THORChain is halting its mainnet operations. The network halted its operations following a breach on July 16, 2021. The hackers stole a whopping $7.6 million in digital assets. 
While commenting on the attack, Chris Blec disclosed that it could have been worse if not for the caps which THORChain places on its liquidity pools. 
The second incident that halted the mainnet operation occurred in October 2022. A software bug caused “non-determinism between individual nodes.” The developers shared the update on Twitter, stating their steps to fix the issue. 

Many responses to this questioned the decentralized nature of THORChain, given the ease at which the team halts its operations. A user asked how the team got consensus from the nodes to halt the trading activities so fast. But others commended the team for being fast in preventing exploits that could lead to losses.

Meanwhile, the latest incident has affected the price of RUNE. The asset is currently trading in downward momentum, and its price is $1.30.
Featured image from Pexels and chart from TradingView


In a new report, a cross-chain liquidity protocol THORChain has stopped trading activities on its mainnet due to a potential network vulnerability. By taking this proactive step, the protocol may be among some cases that eluded hackers&#8217; exploits.  Hackers usually seek vulnerabilities in cry...

THORChain halts Operations Due To Network Vulnerability Report

Polygon Labs has recently made a major announcement that is set to impact the Ethereum network’s future positively. The protocol has launched Polygon zero-knowledge proof Ethereum Virtual Machine (zkEVM) on mainnet Beta, a permissionless and public network allowing users to transact and build. 
According to the announcement, to further support the protocol’s development, Polygon zkEVM is now completely open-source. With this launch, Polygon is allegedly helping to pave the way for the next chapter of Ethereum’s development and offering developers and users a new tool for building decentralized applications. 

What Are The Benefits Of Polygons’s New zkEVM?
The Polygon zkEVM is a zero-knowledge proof (ZPK) scaling solution developed by the same protocol, designed to enable faster and cheaper transactions on Ethereum’s network. The public testnets for zkEVM have established it as a leader among Ethereum Virtual Machine (EVM) equivalent ZK scaling solutions. 
One of the key benefits of zkEVM is its use of zero-knowledge proofs, which ensures security and reduces gas fees. Another win for users is that zero-knowledge proofs enable transaction verifications without revealing sensitive information, making them highly secure. 
Furthermore, Polygon’s zkEVM is designed to be fully compatible with the EVM, so developers can easily deploy existing Ethereum smart contracts on the network, facilitating developers to migrate their existing applications to zkEVM. 
Additionally, the zkEVM is designed to improve the scalability of Ethereum, allowing faster and more efficient transactions with lower fees for developers and users of the protocol’s new feature. 

Polygon Takes Precautions Against Potential Risks of zkEVM Mainnet Beta Launch
According to the announcement, the protocol refers to the risks of using zkEVM Mainnet Beta. While the launch of the mainnet is a significant development for the protocol, undetected bugs can always disrupt the network’s stability. 
To address these potential risks, Polygon Labs has outlined “stringent” security measures, which will include the establishment of a temporary security council, which will be responsible for overseeing the network’s security and addressing any issues-
The security council will comprise various companies and organizations in the blockchain industry. Moreover, Polygon will implement a bug bounty program, which is intended to incentivize researchers and developers to identify and report any bugs or vulnerabilities that they discover in the Polygon zkEVM Mainnet Beta. 
With the risks and potential vulnerabilities, the established bug bounty program will have rewards of up to $1,000,000 being offered for documenting critical vulnerabilities, according to the protocol. 
Despite the positive development of the new Polygon feature, the protocol’s native token, MATIC, has not responded positively to the announcement. Currently, MATIC is trading at $1.0462, indicating a decline of over 5% in the last 24 hours.
However, the launch of these new developments has been met with positive reception from the cryptocurrency community, which could have a positive impact on MATIC’s price in the long term.


Featured image from Unsplash, chart from TradingView.com 


Polygon Labs has recently made a major announcement that is set to impact the Ethereum network&#8217;s future positively. The protocol has launched Polygon zero-knowledge proof Ethereum Virtual Machine (zkEVM) on mainnet Beta, a permissionless and public network allowing users to transact and bui...

Polygon Launches zkEVM Mainnet Beta, Will It Reduce Costs Of Ethereum Transactions?

Despite Bitcoin’s difficulty reaching an all-time high at 46.84 trillion, participants in bitcoin mining have kept the hashrate running stronger than ever before. According to statistics, on March 23, 2023, the hashrate reached a high of 400 exahash per second (EH/s). The 400 exahash equates to 0.4 zettahash or four hundred quintillion hashes per second. As the hashrate continues to climb, research analyst Sam Wouters at River Financial estimates that at the current growth rate, Bitcoin could reach the zettahash era “by the end of 2025.”
Reasons for the Increase in Bitcoin Hashrate: Insights from River Financial Analyst
Two days ago, Bitcoin.com News reported that the difficulty of the Bitcoin network had increased for the third consecutive time in the last six weeks. The difficulty is now at an all-time high of around 46.84 trillion after increasing by 7.56% on March 23, 2023. On the same day, Bitcoin’s hashrate peaked at 400 exahash per second, representing an unimaginable four hundred quintillion hashes per second. Soon, Bitcoin’s hashrate will likely reach a single zettahash, which is equivalent to 1,000 EH/s or one sextillion hashes per second.

After Bitcoin’s hashrate rose to 400 EH/s, research analyst Sam Wouters at River Financial stated that he has received numerous inquiries regarding the increase. Wouters also estimated that “at the current growth rate in 2023, we’d reach a Zettahash by the end of 2025.” Some have questioned whether the growth is due to nation-states or secret mining operations contributing to the increase. Wouters said he finds it “unlikely that the added hashrate would be mostly from nation-states.”
The analyst also acknowledged rumors of miners holding “significant inventories” of unused application-specific integrated circuit (ASIC) miners. Wouters said that with BTC’s price increase, “more of this inventory has been able to go online.” The River Financial analyst also mentioned the use of hydro-powered ASIC units, which he said contribute “tremendous hashrate” and are estimated to have the highest average profitability at present. Wouters stated that he has written a report on what mining in the zettahash era will look like when Bitcoin reaches the 1 zettahash milestone.

The River Financial analyst explains that the current increase in hashrate could be due to a variety of factors, such as “unused inventory going online,” “new models becoming available,” “more facilities becoming operational,” and “clever entrepreneurs finding low-cost sources before regulators intervene.” In Wouters’ December 2022 study, the analyst states that a wide range estimate indicates there are approximately 2.5 to 5 million ASIC miners in operation today. The research shows that, without any efficiency improvements to miners, it would take around 11.2 million to support a hashrate of 1 zettahash.
What are your thoughts on the future of Bitcoin mining and its potential to reach the zettahash era? Do you think the industry will continue to see significant growth, or are there potential roadblocks that could hinder its progress? Share your opinions in the comments below.



Despite Bitcoin&#x2019;s difficulty reaching an all-time high at 46.84 trillion, participants in bitcoin mining have kept the hashrate running stronger than ever before. According to statistics, on March 23, 2023, the hashrate reached a high of 400 exahash per second (EH/s). The 400 exahash equat...

Bitcoin Hashrate Reaches 400 Exahash per Second, Researcher Says Network Could Reach Zettahash Era by 2025

[PRESS RELEASE – Please Read Disclaimer]
The partnership will enable OKX Wallet users to access Sui’s ecosystem projects and participate in a range of airdrops and community initiatives.
March 8, 2023 – Sui Network, a layer 1 blockchain designed for scaling decentralized applications, has announced a strategic partnership with OKX Wallet, a leading self-custodial service in the digital assets industry. The partnership will enable OKX wallet users to access Sui’s ecosystem projects and participate in a range of airdrops, along with community initiatives.
Under the partnership, OKX Wallet will collaborate with Sui on the integration of the Sui Wallet. Additionally, Sui will run a social media campaign with OKX Wallet offering airdrop rewards for user engagement. Sui will leverage the partnership to build a close engagement with OKX Wallet’s customers, with a dedicated page for Sui ecosystem news and updates, airdrops, new projects, and marketing campaigns.
Additionally, Sui’s Name Service will be the exclusive partner for OKX Wallet’s domain projects, with free domain campaigns and airdrop campaigns planned to engage with Sui users. OKX Wallet will also integrate decentralized identifiers (DIDs) in its platform, while a dedicated NFT marketplace for Sui Name Service will be established. Top projects in the Sui ecosystem will also receive exclusive marketing campaigns and collaborations with OKX Wallet, while regular marketing campaigns and collaborations will be established for general projects.
About OKX Wallet
OKX Wallet is a multi-platform, universal crypto wallet created by the world’s namesake leading cryptocurrency exchange. Users can use the OKX Wallet to gain easy access to the Web3 ecosystem, including tokens, NFTs, and dApps in more than 40 chains and roll-ups. As a self-custodial, decentralized wallet product, users are in charge of their own private keys and crypto assets on both EVM and non-EVM chains. In addition, its built-in Yield module allows anyone to participate in DeFi easily, conveniently, and safely.
About Sui
Developed by Mysten Labs, Sui is horizontally scalable layer 1 blockchain designed to support a wide range of dApp development with high speed at low cost. The first-of-its-kind platform brings users a general-purpose blockchain with high throughput, instant settlement speeds, rich on-chain assets, and user-friendly web3 experiences. Developers of Sui Network include cryptography experts who were senior executives of Meta’s Novi Research and lead architects of the Diem blockchain and Move programming language.
The post Sui Network Announces Strategic Partnership with OKX Wallet appeared first on CryptoPotato.

[PRESS RELEASE &#8211; Please Read Disclaimer] The partnership will enable OKX Wallet users to access Sui&#8217;s ecosystem projects and participate in a range of airdrops and community initiatives. March 8, 2023 &#8211; Sui Network, a layer 1 blockchain designed for scaling decentralized applica...

cryptopotato.com

Sui Network Announces Strategic Partnership with OKX Wallet

[PRESS RELEASE Toronto, Canada, 27th March 2023]
​​XCMG Construction Machinery Co., Ltd. (000425.SZ), the world’s third largest construction machinery manufacturers, announced a partnership with Conflux, a leading public blockchain network, and Zen Spark Technology Pte Ltd, a Singapore-based blockchain and fintech company. The partnership aims to leverage blockchain and Web3 technologies to explore more international use cases.
The partnership between XCMG, Conflux, and Zen Spark Technology Pte Ltd will leverage the strengths of all three companies to explore new scenarios for the application of blockchain and Web3 technology in the global market. By combining XCMG’s extensive global network with Conflux’s cutting-edge technology and Zen Spark’s fintech expertise, the three companies aim to develop new use cases for blockchain and explore the potential of Web3.
XCMG currently ranks third place in the world’s top 50 construction equipment manufacturers, according to KHL Group’s Yellow Table 2022 ranking. In the first half of 2022, despite obstacles, XCMG expanded to overseas markets and achieved export revenue of RMB 12.488 billion ($1.83 Billion), a year-on-year increase of 157.28%. As a world leader in the construction machinery industry, XCMG’s vision is driven by long-term investment and high-level innovation in research and development into the technology surrounding its equipment.
“We are excited to partner with Conflux and Zen Spark to explore new opportunities in global markets,” said XCMG’s Vice President of Machinery and General Manager of Import and Export Company, Liu Jiansen. The partnership between XCMG, Conflux, and Zen Spark Technology Pte Ltd is a significant milestone in the development of blockchain technology and its application in traditional industries. As the world becomes increasingly interconnected, the ability to leverage blockchain and Web3 technology to drive innovation and explore new business models is more important than ever.
“We are thrilled to partner with XCMG and Zen Spark to explore new opportunities in the global market,” said Fan Long, Founder of Conflux. “With our cutting-edge blockchain technology, and the expertise of Zen Spark in fintech and blockchain, we are well-positioned to create new solutions and explore new use cases for blockchain and Web3 technology. This partnership is a testament to our shared commitment to innovation and our belief in the potential of blockchain to transform traditional industries.”
“Zen Spark is excited to be partnering with XCMG and Conflux on this initiative, and we are confident that our fintech and blockchain expertise will complement the strengths of our partners,” said Grace, CEO of Zen Spark Technology Pte Ltd. “We look forward to exploring new opportunities in the global market and contributing to the development of innovative solutions that benefit businesses and consumers alike.”
At the CONEXPO-CON/AGG trade show in Las Vegas, XCMG announced their entry into Web3 by revealing Bored Ape Yacht Club NFT #3489 (BAYC #3489) as the brand’s Metaverse Ambassador. Additionally, XCMG and Conflux plan to jointly issue their first NFT collection for overseas markets in the near future. As XCMG continues to explore new opportunities in the blockchain and web3 space, the company is excited to leverage its partnership with Conflux and Zen Spark Technology Pte Ltd and their expertise in distributed ledger technology and fintech to bring innovative solutions to the global market.
The partnership between XCMG, Conflux, and Zen Spark Technology Pte Ltd will be closely watched by industry experts and investors, as the three companies explore new opportunities and drive innovation in the global market. With the power of blockchain and Web3 technology, the possibilities are endless, and the future looks bright for XCMG, Conflux, Zen Spark and the global community.
About XCMG
XCMG is the world’s 3rd largest construction machinery company, holding the 65th position in China’s Top 500 Companies, the 44th spot in China’s Top 100 Manufacturing Enterprises, and ranking 2nd among China’s Top 100 Machinery Manufacturers. Throughout its robust and steady growth in the global market, XCMG has systematically established a vast marketing network encompassing over 2,000 service terminals, more than 6,000 technical experts, and in excess of 5,000 marketing and sales service staff. This expansive network spans 183 countries and regions, enabling XCMG to consistently offer its worldwide clientele comprehensive, integrated, highly efficient, and convenient one-stop services, including pre-sales, sales, after-sales, and financing solutions.
About Conflux Network
Conflux is a permissionless Layer 1 blockchain connecting decentralized economies across borders and protocols. Recently migrated to hybrid PoW/PoS consensus, Conflux provides a fast, secure, and scalable blockchain environment with zero congestion, low fees, and improved network security. As the only regulatory-compliant public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. In the region, Conflux has collaborated with global brands and government entities on blockchain and metaverse initiatives, including the city of Shanghai, McDonald’s China, and Oreo.
About Zen Spark
Zen Spark Technology Pte Ltd, a Singapore-based blockchain and fintech company, is passionately committed to expanding the real-world applications of blockchain technology on a larger scale. Zen Spark Technology develops groundbreaking solutions that seamlessly integrate blockchain technology into real-world use cases. This includes areas such as supply chain management, digital identity verification, data security, and decentralized finance (DeFi), among others.
The post Construction Giant XCMG Chooses Conflux for NFTs and Future Global Blockchain Applications appeared first on CryptoPotato.

[PRESS RELEASE Toronto, Canada, 27th March 2023] ​​XCMG Construction Machinery Co., Ltd. (000425.SZ), the world&#8217;s third largest construction machinery manufacturers, announced a partnership with Conflux, a leading public blockchain network, and Zen Spark Technology Pte Ltd, a Singapore-base...

Construction Giant XCMG Chooses Conflux for NFTs and Future Global Blockchain Applications


As several African nations grapple with the negative effects of the ongoing US dollar crisis, there’s growing interest in adopting Bitcoin as an alternative currency. The potential of this digital currency to revolutionize Africa’s $86 billion banking sector has been a topic of discussion among key players in the financial industry.



In the first-ever Africa Bitcoin Conference held in Accra, industry leaders explored how Bitcoin could potentially transform Africa’s financial infrastructure. The goal is to provide crucial tools for unbanked populations facing issues like currency instability, dependence on remittances, and economic sanctions.



Abandoning the US Dollar



In light of the US dollar crisis, Kenyan President William Ruto recently unveiled a new proposal. The initiative aims for Kenya to purchase oil using its local shilling currency to alleviate the fuel shortage caused by oil cartels hoarding US dollars. Ruto accused the cartels of exacerbating the US dollar crisis, leading to fuel shortages in Kenya. 



In response, his administration implemented measures to address the scarcity of US dollars. These include allowing Kenyans to acquire petrol on a six-month credit and signing deals with Saudi Arabia and UAE firms to supply diesel, petrol, and jet fuel on credit.




 Kenyan President William Ruto recommends his citizens who hold US dollars to get rid of them.The market will change within a few weeks, he predicts. pic.twitter.com/iQhmfde6c9— Wall Street Silver (@WallStreetSilv) March 26, 2023




These deals, backed by government-to-government arrangements, involve Saudi Aramco, Abu Dhabi National Oil Company, and Emirates National Oil Company, supplying fossil fuels to Kenya. This arrangement aims to ease the pressure on foreign currency demand. It also aims to stem the Kenya shilling’s slide against the US dollar and other major currencies. 



Kenya’s demand for fossil fuels amounts to a staggering $500 million per month. This makes up a significant portion of the country’s total import bill.



Africa’s Digital Alternatives



Mobile money, a digital wallet linked to a phone number, has seen rapid growth in Africa. Transactions increased by 39% to over $700 billion in 2021. However, users still lack some benefits of traditional banking, such as access to credit and protection against currency instability. 



Bitcoin could eliminate intermediaries and enable direct digital payments between individuals without credit or multiple fees.



The Lightning Network is a second layer built on top of Bitcoin’s main chain. It reduces transaction costs and enables faster payments, making Bitcoin more effective for everyday use. 









Companies like Yellow Card, Africa’s largest centralized crypto exchange, are exploring the Lightning Network. The goal is to reduce transaction costs further and enable seamless international payments between Lightning-enabled Bitcoin wallets.



Innovative projects like Bernard Parah’s partnership with Strike, a Lightning Network payments platform, demonstrate the potential for Bitcoin to facilitate cross-border transfers without recipients needing to interact with cryptocurrency themselves. Parah’s “Send Globally” service allows people in the US to send money to Nigeria, Ghana, and Kenya.



South African developer Kgothatso Ngako developed a custodial Lightning wallet called “Machankura.” It allows people without internet access to send and receive Bitcoin. The service is compatible with any Lightning wallet globally, enabling instant transfers even to basic mobile phones in remote areas.



Transferring money in Africa can be expensive and difficult due to limited access to commercial bank branches. Digital banking options are scarce, and issues like hyperinflation, government corruption, and capital controls further complicate matters. 



Africa’s payment system relies heavily on foreign processing, leading to increased costs and lengthy processing times.



Bitcoin Enables a Decentralized Future



Bitcoin offers a potential solution to these challenges by providing a decentralized, borderless digital currency. It can empower people who would otherwise be financially excluded. 



In instances like Nigeria’s #EndSARS protests, the government attempted to block protesters’ access to funds, but Bitcoin provided an alternative means of support.



Bitcoin Legality by Country. Source: Coin Dance



However, transferring money via the Bitcoin blockchain also has challenges, such as increased fees during peak demand and transaction delays. The Lightning Network addresses these issues, making Bitcoin more accessible and viable for widespread use across the continent.



Despite potential regulatory challenges, these innovative projects could drive the mass adoption of Bitcoin in Africa, gradually reducing dependence on the US dollar. 



During the Africa Bitcoin Conference, Block CEO Jack Dorsey highlighted that mass adoption of Bitcoin could eventually undermine government attempts to control financial activity. He emphasized the importance of continuing to build and innovate.



Adopting Bitcoin as a mainstream currency in Africa faces significant hurdles. Still, combining innovative technologies like the Lightning Network, collaborations between major industry players, and grassroots efforts to educate and empower the population could usher in a new era of financial independence for millions of Africans.
The post Africa Embraces Bitcoin as Alternative to US Dollar Crisis appeared first on BeInCrypto.


As the dollar crisis impacts Africa, Bitcoin emerges as a potential solution, revolutionizing the $86 billion banking sector and empowering the unbanked. Innovative projects and the Lightning Network fuel financial inclusion and challenge traditional systems.
The post Africa Embraces Bitcoin as A...

Africa Embraces Bitcoin as Alternative to US Dollar Crisis


The Total Crypto Market Cap (TOTALCAP) and the Bitcoin (BTC) price rallies stalled last week. ssv.network (SSV) broke out from a descending resistance line.



In the news, Silicon Valley Bank (SVB) brokered a buyout deal with First Citizens Bank, which includes $72 billion of SVB assets.



Crypto Market Cap (TOTALCAP) Rally Loses Momentum



The TOTALCAP increased stalled last week after creating a candlestick with wicks on each side. However, the price finally moved above its August 2022 highs (red line). Despite the loss of momentum, the trend still looks bullish due to the increasing weekly RSI, which is also above 50.



If the increase continues, TOTALCAP could move to $1.30 trillion. However, if a reversal follows, TOTALCAP could fall to the $1.04 trillion support area.



TOTALCAP/USDT Weekly Chart. Source: TradingView



Bitcoin (BTC) Price Struggles to Sustain Increase



The Bitcoin price movement shares many similarities to TOTALCAP. After creating a bullish engulfing candlestick two weeks ago, the rally stalled with a relatively neutral candlestick characterized with wicks on each side. However, the weekly RSI is increasing and is above 50.



If the previous upward movement continues, BTC could move to the $31,600 resistance area. However, if the rally loses momentum, BTC could fall to $24,500.



BTC/USDT Weekly Chart. Source: TradingView



ssv.network (SSV) Price Clears Resistance



The SSV price had fallen under a descending resistance line since Feb. 27.  However, it broke out from the line on March 26 and validated it as support the next day (green icon). If the increase continues, the price could move to $40.50. However, if the SSV price falls below the resistance line, it could drop to $34.



SSV/USDT Daily Chart. Source: TradingView



For BeInCrypto’s latest crypto market analysis, click here.
The post Why Is the Crypto Market Up Today? appeared first on BeInCrypto.


The Total Crypto Market Cap (TOTALCAP) and the Bitcoin (BTC) price created bullish engulfing candlesticks. Mask Network (MASK) broke out from the $5.30 resistance area.
The post Why Is the Crypto Market Up Today? appeared first on BeInCrypto.


Why Is the Crypto Market Up Today?


​​XCMG Construction Machinery Co., Ltd. (000425.SZ), the world’s third largest construction machinery manufacturers, announced a partnership with Conflux, a leading public blockchain network, and Zen Spark Technology Pte Ltd, a Singapore-based blockchain and fintech company. 



The partnership aims to leverage blockchain and Web3 technologies to explore more international use cases.



The partnership between XCMG, Conflux, and Zen Spark Technology Pte Ltd will leverage the strengths of all three companies to explore new scenarios for the application of blockchain and Web3 technology in the global market. By combining XCMG’s extensive global network with Conflux’s cutting-edge technology and Zen Spark’s fintech expertise, the three companies aim to develop new use cases for blockchain and explore the potential of Web3.



XCMG currently ranks third place in the world’s top 50 construction equipment manufacturers, according to KHL Group’s Yellow Table 2022 ranking. In the first half of 2022, despite obstacles, XCMG expanded to overseas markets and achieved export revenue of RMB 12.488 billion ($1.83 Billion), a year-on-year increase of 157.28%. As a world leader in the construction machinery industry, XCMG’s vision is driven by long-term investment and high-level innovation in research and development into the technology surrounding its equipment.



“We are excited to partner with Conflux and Zen Spark to explore new opportunities in global markets,” said XCMG’s Vice President of Machinery and General Manager of Import and Export Company, Liu Jiansen. The partnership between XCMG, Conflux, and Zen Spark Technology Pte Ltd is a significant milestone in the development of blockchain technology and its application in traditional industries. As the world becomes increasingly interconnected, the ability to leverage blockchain and Web3 technology to drive innovation and explore new business models is more important than ever.



“We are thrilled to partner with XCMG and Zen Spark to explore new opportunities in the global market,” said Fan Long, Founder of Conflux. “With our cutting-edge blockchain technology, and the expertise of Zen Spark in fintech and blockchain, we are well-positioned to create new solutions and explore new use cases for blockchain and Web3 technology. This partnership is a testament to our shared commitment to innovation and our belief in the potential of blockchain to transform traditional industries.”




“Zen Spark is excited to be partnering with XCMG and Conflux on this initiative, and we are confident that our fintech and blockchain expertise will complement the strengths of our partners,” said Grace, CEO of Zen Spark Technology Pte Ltd. “We look forward to exploring new opportunities in the global market and contributing to the development of innovative solutions that benefit businesses and consumers alike.”




At the CONEXPO-CON/AGG trade show in Las Vegas, XCMG announced their entry into Web3 by revealing Bored Ape Yacht Club NFT #3489 (BAYC #3489) as the brand’s Metaverse Ambassador. Additionally, XCMG and Conflux plan to jointly issue their first NFT collection for overseas markets in the near future. 



As XCMG continues to explore new opportunities in the blockchain and web3 space, the company is excited to leverage its partnership with Conflux and Zen Spark Technology Pte Ltd and their expertise in distributed ledger technology and fintech to bring innovative solutions to the global market.



The partnership between XCMG, Conflux, and Zen Spark Technology Pte Ltd will be closely watched by industry experts and investors, as the three companies explore new opportunities and drive innovation in the global market. With the power of blockchain and Web3 technology, the possibilities are endless, and the future looks bright for XCMG, Conflux, Zen Spark and the global community.



About XCMG



XCMG is the world’s 3rd largest construction machinery company, holding the 65th position in China’s Top 500 Companies, the 44th spot in China’s Top 100 Manufacturing Enterprises, and ranking 2nd among China’s Top 100 Machinery Manufacturers. 



Throughout its robust and steady growth in the global market, XCMG has systematically established a vast marketing network encompassing over 2,000 service terminals, more than 6,000 technical experts, and in excess of 5,000 marketing and sales service staff. 



This expansive network spans 183 countries and regions, enabling XCMG to consistently offer its worldwide clientele comprehensive, integrated, highly efficient, and convenient one-stop services, including pre-sales, sales, after-sales, and financing solutions.



About Conflux Network



Conflux is a permissionless Layer 1 blockchain connecting decentralized economies across borders and protocols. Recently migrated to hybrid PoW/PoS consensus, Conflux provides a fast, secure, and scalable blockchain environment with zero congestion, low fees, and improved network security. 



As the only regulatory-compliant public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. In the region, Conflux has collaborated with global brands and government entities on blockchain and metaverse initiatives, including the city of Shanghai, McDonald’s China, and Oreo.



About Zen Spark



Zen Spark Technology Pte Ltd, a Singapore-based blockchain and fintech company, is passionately committed to expanding the real-world applications of blockchain technology on a larger scale. Zen Spark Technology develops groundbreaking solutions that seamlessly integrate blockchain technology into real-world use cases. 



This includes areas such as supply chain management, digital identity verification, data security, and decentralized finance (DeFi), among others.
The post XCMG Chooses Conflux For NFTs And Future Global Blockchain Applications appeared first on BeInCrypto.


​​XCMG Construction Machinery Co., Ltd. (000425.SZ), the world&#8217;s third largest construction machinery manufacturers, announced a partnership with Conflux, a leading public blockchain network, and Zen Spark Technology Pte Ltd, a Singapore-based blockchain and fintech company. The partnership...

XCMG Chooses Conflux For NFTs And Future Global Blockchain Applications

Coinbase explained that it is now “more important than ever” to build an inflation-tracking stablecoin that negates poor monetary policy decisions of central banks.

cointelegraph.com

Coinbase wants devs to build inflation-pegged 'flatcoins' on its new 'Base' network

Polkadot (DOT), Kusama (KSM) and Cardano (ADA) are leading the crypto space in terms of “notable” GitHub development activity, according to the crypto analytics firm Santiment.
Santiment notes that Polkadot and its canary test network Kusama both registered 591.47 Github commits in the past 30 days, leading all other crypto assets.

Ethereum (ETH) competitor Cardano registered 531.8, and Web3 project Internet Computer (ICP) was fourth with 399.7.
Source: Santiment/Twitter
Santiment notes that it doesn’t count routine updates and used “advanced methodology” to collect data for “true” GitHub commits only.
The analytics firm has previously said that heavy development activity centered around a crypto project is a positive indication that could mean that the developers believe the protocol will be successful or shipping new features. It also indicates that there is less possibility that the project is just an “exit scam.”
DOT is trading at $6.05 at time of writing. The 13th-ranked crypto asset by market cap is down by nearly 4% in the past 24 hours.
KSM, the 136th-ranked crypto asset by market cap, is trading at $33.37 at time of writing and is down 4.22% in the past day.
ADA is trading around $0.3601 at time of writing. The seventh-ranked crypto asset by market cap is down 2.65% in the past 24 hours.
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The post Polkadot, Kusama and Cardano Leading Crypto Space in Terms of ‘Notable GitHub Activity’: Santiment appeared first on The Daily Hodl.


Polkadot (DOT), Kusama (KSM) and Cardano (ADA) are leading the crypto space in terms of &#8220;notable&#8221; GitHub development activity, according to the crypto analytics firm Santiment. Santiment notes that Polkadot and its canary test network Kusama both registered 591.47 Github commits in th...

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