Connect with us

Blockchain

DAO Framework Announcement Made Tezos Surge By 20%

Avatar

Published

on

ADVERTISEMENT

The new DAO framework announcement as well as the Grayscale rumors, made the Tezos price surge by 20% as we can see in today’s XTZ price news.

The New York-based company TQ Tezos, announced Homebase which is a new project that allows Tezos users to set up an to interact with decentralized autonomous organizations and to establish a new community governance structure so thanks to the new DAO framework, XTZ increased by 20%. The price of the coin reacted positively to the news and surged by 20% to a price of $3.37 according to the CoinGecko data. As the name suggested, DAOs allow various decentralized project users to take part in the process of decision making and to vote for new proposals.

baseDAO
How the BaseDAO governance process works. Image TQ Tezos

According to the announcement, Homebase is built on a new smart contract framework dubbed BaseDAO which will allow users to create and to finetune DAOs that will govern resources or rules:

 “A proposal executed by a BaseDAO can be as simple as transferring some funds to an address or, like Tezos, as complex as updating the DAO to an entirely new set of rules.”

A template called TreasuryDAO allows the communities to manage treasuries while the Registry enables governance of arbitrary smart contracts as TQ Tezos explained:

ADVERTISEMENT

 “Initially, Homebase will support the core behavior requested by users and the community: parameter selection (e.g. similar to Compound) and treasury management DAOs. Over the coming weeks and months, we’ll be enhancing and extending these templates for new exciting applications such as fractional ownership of NFTs and DAOs for simple off-chain vote signaling like Snapshot.”

Tezos’ upgrade “Delphi” went live in November and allowed to speed up the transactions as well as to lower the fees. Tezos developers are now working on the next upgrade named “Edo” which will introduce privacy features to the blockchain. In addition to the DAO announcement, the rumors were circulating about a new Grayscale Trust for Tezos. Grayscale Investments is the biggest crypto asset manager and investment platform and holds over $25.5 billion worth of cryptocurrencies in nine trusts. The products are some of the only regulated crypto-offerings that are trading on the public markets in the US.

The Tezos trust will work in a similar manner as Grayscale will hold a fixed amount of XTZ per share and the investors will be able to buy it via a regulated OTC broker.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Source: https://www.dcforecasts.com/tezos-news/dao-framework-announcement-made-tezos-surge-by-20/

Blockchain

Bitcoin has brought new thinking to payments and financial inclusion: SEC chair nominee

Avatar

Published

on

When it comes to Bitcoin, market opinions are often divided, with those who support the asset and those who don’t. Similar camps may now appear to take hold of US regulators and policymakers. Recently, President Biden’s nominee for chairman of United States Securities and Exchange Commission (SEC), Gary Gensler appeared to share his perspective on the crypto sector. Gensler said that cryptocurrencies “have been a catalyst for change.” 

Speaking to US Senator Mike Rounds during his Senate confirmation, Gensler added

Bitcoin and other cryptocurrencies have brought new thinking to payments and financial inclusion, but they’ve also raised new issues of investor protection that we still need to attend to.

His opinion on crypto is in stark contrast to Treasury secretary, Janet Yellen’s, who believed that Bitcoin is “extremely inefficient for conducting transactions” and that it is a “highly speculative asset.” It goes against Senator Elizabeth Warren’s views, who thinks Bitcoin would only “end badly.” 

However, if Gensler is confirmed, a move that many crypto enthusiasts are looking forward to, the nominee plans to work to “promote the new innovation.” 

I think, as I teach at MIT on these subjects, that these innovations have been a catalyst for change. Bitcoin and cryptocurrencies have brought new thinking to payments and financial inclusion but they’ve also raised new issues of investor protection…If confirmed at the SEC, I will work to promote innovation.

He quickly stressed on the importance of investor protection and said:

It’s always important to update our market oversight to new technologies…It’s important to stay true to our principles of investor protection.   

Furthermore, in his opening remarks, Gensler said that markets—and technology— “are always changing” and must not be taken for granted.

Our rules have to change along with them. I believe financial technology can be a powerful force for good but only if we continue to harness the core values of the SEC in service of investors, issuers, and the public.

Gensler is most famously known for testifying before Congress for crypto and blockchain several times in the past. He even argued against the notion that crypto was similar to Ponzi schemes.


Sign Up For Our Newsletter


Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
Source: https://ambcrypto.com/bitcoin-has-brought-new-thinking-to-payments-and-financial-inclusion-sec-chair-nominee

Continue Reading

Blockchain

Ubisoft Gets Behind a New Free-to-Play Crypto Game

The free-to-play game based on Belgium’s Jupiler Pro League ties into the Ethereum-driven Sorare, which recently raised $50 million.

Avatar

Published

on

In brief

  • Game publisher Ubisoft has developed One Shot League, a free-to-play crypto game.
  • It was created in partnership with crypto fantasy soccer platform Sorare and uses its Ethereum-based digital cards.
  • Ubisoft has made many moves in the crypto scene, and Sorare just announced a $50M Series A funding round.

Ethereum-based fantasy soccer game Sorare finished February by announcing a $50 million Series A funding round, and has now started March with another major move: the launch of One Shot League, a free-to-play spinoff created in collaboration with gaming giant Ubisoft.

One Shot League, which is available to play starting today, serves as an on-ramp to the core Sorare experience, which counts more than 100 officially licensed teams and leagues from around the world. Players must use a Sorare account, and can bring in some of their premium digital Sorare cards—which are non-fungible tokens, or NFTs—from participating leagues to receive a special boost in One Shot League.

Like the core Sorare game, One Shot League is a fantasy soccer experience in which players use digital cards based on professional players. The game is launching initially with only the official Jupiler Pro League license out of Belgium, which has five match weeks left in the current season.

Players who sign up for One Shot League now will receive 25 free Sorare common cards and can use five cards per week, earning points from each pro’s respective real-life performance to scale the online leaderboards. Should players sign up following the next match week, they will receive only 20 cards for the four remaining weeks (or five cards per match week), and so on and so forth until the season ends. At the end of the season, the top players will earn prizes including rare Sorare cards.

Interestingly, One Shot League’s development was led by Ubisoft, the global publisher behind such best-selling game franchises as Assassin’s Creed, Just Dance, and Tom Clancy’s Rainbow Six. According to Sorare’s announcement today, “Ubisoft has been working these past few months” to develop the game.

One Shot League comes from Ubisoft’s Strategic Innovation Lab division, which leads the firm’s Entrepreneurs Lab program for supporting myriad startups, including many in the blockchain space. Sorare is just one of many crypto startups that have participated in the Entrepreneurs Lab initiative, along with other projects such as Splinterlands and Nine Chronicles developer Planetarium.

This isn’t the first crypto game experience that Ubisoft has published, but it is another big step for a company that is by far the most involved traditional game publisher in the crypto space. Last June, Ubisoft published Rabbids Token, a CryptoKitties-inspired collectibles game built to benefit UNICEF. Ubisoft had also previously teased a Minecraft-inspired crypto game prototype called HashCraft, but it was never released.

Ubisoft has its fingers in other crypto initiatives, as well, including supporting games such as Axie Infinity and the aforementioned Nine Chronicles, as well as serving as a validator for the EOS blockchain-driven digital gaming store, Ultra. Nicolas Pouard, Ubisoft’s Blockchain Initiative Director, spoke with Decrypt last year about the potential he sees in crypto gaming. On the advent of NFTs in gaming, Pouard said at the time that Ubisoft sees it “as a way to allow players to become stakeholders of the games they love, at an unprecedented level.”

Last week, Sorare announced that it raised a $50 million Series A round led by Benchmark, with participation from Accel as well as heavyweight investors such as Alexis Ohanian and Gary Vaynerchuk. Sorare had previously raised a $4 million seed round in July 2020. The French firm plans to use the funding to expand its team, bring on additional soccer leagues, and create a native Sorare mobile app.

Crypto experiences such as NBA Top Shot and Axie Infinity have seen large sums of money change hands recently as NFT frenzy takes hold.

Top Shot, in fact, pulled in a staggering $225 million in sales last month, according to a new report from DappRadar. That’s nearly as much as all NFT sales throughout the entire year in 2020.

Sorare likewise had a good month. According to Bloomberg, Sorare saw some $6.5 million worth of card sales in February, and its most valuable cards can command significant sums of money: a Sorare card based on Paris Saint-Germain forward Kylian Mbappé sold for approximately $65,000 in December.

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
Source: https://decrypt.co/59956/ubisoft-sorare-free-crypto-game-one-shot-league

Continue Reading

Blockchain

Multiple assets can ‘behave like ADA’ through Cardano’s Mary upgrade

Avatar

Published

on

IOHK recently went live with its planned Mary hardfork, a milestone upgrade to the Cardano blockchain. Through Mary, the network will now handle ‘non-native’ tokens, natively, creating a multi-asset environment on the blockchain.

According to a release shared with AMBCrypto, this solution was designed to allow any token to be represented on Cardano without the need for smart contracts or custom code.

These assets from other blockchains can behave in a similar way to ADA, Cardano’s native currency. This would allow businesses and developers to take advantage of Cardano’s speed, security, and reduced transaction costs. However, as proposed earlier, ADA will remain Cardano’s principal currency.

Product Director at IOHK, Aparna Jue, believed that native tokens are crucial in the rollout of smart contracts on Cardano. Over the next few months, IOHK team expects to see a “range of promising use cases for the utility of Cardano come to life” and added:

It’s not just native tokens this week, along with rapid expansion of Cardano’s funding mechanism, Project Catalyst, Cardano is now 88% decentralized, bringing us one step closer to not only having the world’s most advanced blockchain, but one whose future development is decided by its community.

With regard to the hard fork overall, during a preview session, founder of IOHK, Charles Hoskinson, said the transition to the Mary upgrade “should be fairly simple.” He revealed that IOHK has been testing the upgrade for almost a month and that the test “looks good, exchanges are happy.”

Amid the positive developments, ADA increased in market capitalization to over $39 million. It currently ranks as the third-largest crypto by market cap, overtaking that of Binance’s BNB token. ADA, which has hiked by 2,595% in the past year, ws trading at $1.24, at press time.

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
Source: https://eng.ambcrypto.com/multiple-assets-can-behave-like-ada-through-cardanos-mary-upgrade

Continue Reading
Blockchain4 days ago

DEX aggregator 1inch expands to Binance Smart Chain

Blockchain5 days ago

Robinhood Crypto App Onboards 6 Million Users in Two Months

Blockchain4 days ago

MicroStrategy Adds More Than $1 Billion in BTC to Its Asset Stash

Blockchain4 days ago

Mask Network is About to Airdrop $30 Million Worth of Tokens 

Blockchain4 days ago

Cardano (ADA) Adds Glow to its List of Development Languages

Blockchain5 days ago

MDEX skyrockets in DEX environment

Blockchain5 days ago

Dubai Fund Sells $750 Million of Bitcoin to Buy Cardano, Polkadot

Blockchain4 days ago

Veteran Analyst Explains Why is Bearish on Bitcoin Right Now, Says $100K ‘Years Away’

Blockchain5 days ago

This Week’s Hottest Slots At 1xBit Casino

Blockchain4 days ago

Coinbase Hints Token Issuance, While ADA Goes Up (Feb. 27, 2021)

Blockchain5 days ago

BC.Game Casino Review

Blockchain4 days ago

Dubai Crypto Funds Backing Helps Cardano (ADA) Unsettle Binance Coin (BNB) As The Third Largest Crypto

Blockchain5 days ago

Guides To Know Before Spending Bitcoin

Blockchain5 days ago

Claim 20% With Every Deposit At BetChain Casino

Blockchain4 days ago

This was avoidable – The lost Bitcoin fortunes

Blockchain5 days ago

The Best Free Crypto Trading Indicator and how to use it.

Blockchain4 days ago

Ethereum ETF to Launch on TSX

Blockchain5 days ago

Crypto Crash Intensifies as Bitcoin Drops 10%

Blockchain5 days ago

Defiqa Takes DeFi to the Next Level

Blockchain4 days ago

Large Swiss Bank To Offer Crypto Trading to Customers

Blockchain5 days ago

1inch DeFi Exchange Deploys Token on Binance Smart Chain

Blockchain5 days ago

FTX Exchange Premiers Tokyo Olympics Futures Contracts

Blockchain4 days ago

Celebrities Who Are Backing Crypto Growth and Adoption

Blockchain4 days ago

Crypto can be lucrative, but make sure you’re ready for the taxman

Blockchain4 days ago

Dubai Crypto Fund Sells $750 Million BTC to Buy More ADA, DOT

Blockchain4 days ago

Bitcoin Bull Run is Far From Over as FOMO Hasn’t Set in Yet, Analysis Suggests

Blockchain4 days ago

Cardano’s founder launches RATS pool for ADA staking

Blockchain4 days ago

Komodo’s AtomicDEX stress test proves success as a scalability solution

Blockchain4 days ago

Polkadot price prediction: DOT to decline to $25

Blockchain4 days ago

Here’s how IOHK’s glow will simplify smart contract writing for Cardano

Blockchain4 days ago

Why Is Cardano Pumping While Other Cryptocurrencies Are Slumping?

Blockchain4 days ago

US SEC releases framework for future crypto regulations.

Blockchain4 days ago

Grayscale eyes alts such as Cardano, Aave, Chainlink for new investment products

Blockchain4 days ago

Ethereum Update: ‘Berlin’ Hard Fork, EIP-1559, ETH 2.0 Beacon Chain, First ETH ETF

Blockchain5 days ago

CI Global Files World’s First Ethereum ETF in Canada

Blockchain5 days ago

Bitcoin’s price falls below $45,000

Blockchain3 days ago

Binance to Support Cardano (ADA) Upgrade and Hard Fork

Blockchain4 days ago

Anchorage Acquires Banking Charter And Raises $80M

Blockchain4 days ago

CFN Enterprises Inc. Launches Cannabis News Series to Broadcast on Bloomberg, Newsmax & Fox Business

Trending