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Topics - Adams-Richard

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Ethereum News & Updates / The long-awaited Ethereum upgrade is finally complete, US CPI Release Leads to D

« on: September 16, 2022, 09:06:19 AM »

Image from Cointelegraph

The Merge, a significant upgrade to Ethereum, has now been completed

The attention is on Ethereum as it successfully completes the Merge, the biggest technological improvement in recent years. The historic occasion is the result of months of precise planning and trial runs. Ethereum can now welcome new investors as it upgrades to this 2.0 edition with a successful Merge.

However, the price of Ethereum fell after the US CPI Release, a few hours before the Merge. Ethereum's price decreased, but so did that of other cryptocurrencies and Bitcoin.

Bitcoin and Ethereum are still the leading cryptocurrencies in the market today. But both are not exempted from the possible price decline after the US CPI release. In fact, the top cryptocurrencies' prices tumbled significantly, wiping out significant gains made over the course of the week.

But for many, the decline in the value of Ethereum is actually a chance for them to purchase it at a low price in light of the significant impact that the Merge may have in the future.

In many ways, Ethereum is already the dominant cryptocurrency

In addition to the Ether's 6% decline after the most recent official reading on U.S. inflation, there was also a significant decline after the Merge. But the fundamental reason is that many people now use the Buy low, sell high strategy. The majority of cryptocurrency owners will sell their ETH to profit from its high price even before Merge. Therefore, we expect this volatility for at least the next 24 hours.

Weeks before the Merge, Bitcoin and Ether seemed to be moving in different directions. It's likely that ether may now recouple with the price movement of its major competitor.

Additionally, as 70% of tokens are built on Ethereum, the Merge's success will inspire further improvements to Ethereum, which should place it in a great position to also be the leading currency in terms of market cap.

The Merge is the biggest thing that has happened in a long time

Given how risky the endeavor is, the event is seen as monumental. In fact, many questioned if it would happen at all. But here we are, The update’s complexity was compounded by the fact that it may have been one of the largest open-source software endeavors in history.

As we all know, the amount of energy required by Ethereum's blockchain will be drastically reduced if PoS is used as the consensus mechanism.

So the first thing that will happen after PoS is implemented is for Ethereum's hash rate to drop to zero, which will mark the end of an era. A user can become a validator if they have ETH in their possession. By using the equity they have gained from investing in the protocol, they will also be able to profit

Author’s note:

The market had anticipated a successful Merge, and so far it indicates that this has been achieved. Also, with the network's successful transition to PoS, I must say that I am bullish on Ethereum's long-term growth.

Other Popular Cryptos / Coins / The Terra Classic: Why This Cryptocurrency Is Currently Trending

« on: September 14, 2022, 08:39:37 AM »

Image from Binance

Are you looking for a cryptocurrency with long-term growth potential? Whether or not you are new to the world of cryptocurrencies, now is the ideal time for you to invest in $LUNC!

With a $1.58 Billion 24-hour trading volume, Luna's price is $4.40 at the time of writing. On the previous day, LUNA lost -10.23%. Currently, it is -37.41% below its 7-day high of $7.03 and 147.06% above its 7-day low of $1.78. 127.48 M LUNA are currently in circulation. Although the price of LUNA may appear to be somewhat bearish to you right now, but if you look more closely, you will notice that $LUNC is actually bullish over the long term.

Earlier today, Terra Classic (LUNC) was trading at $0.0003559, which is a very bullish price. Almost everyone was convinced after that that $LUNC might reach 0.001 before the LUNC burn.

Another update regarding Terra Classic (LUNC)

On the BNB chain, a fresh meme coin called JailKwon has just been released. The new meme coin was introduced in "honor of Do Kwon" and aims to be the first cryptocurrency that "educates to earn."

In the meanwhile, Another complaint has been filed against Do Kwon in the interim, alleging that Kwon marketed the LUNA, UST, and Anchor protocols despite being aware that these tokens would collapse and are unsustainable as investments.

Don't Miss Out on the LUNC Trading Bot Campaign!

The LUNC Upgrade Carnival has been extended till September 16 due to the People's exchange receiving enthusiastic support from its LUNC depositors and traders. The campaign was initially scheduled to end today at 12:00 (UTC). So, if you haven't already joined the carnival, Now is the perfect time for you to do so!

A Session where Everything about LUNC you want to Know is Here!

Image from Telegram

If you're beginning to think that LUNC is the best cryptocurrency to invest in and you want to learn more about it, then keep an eye out for an AMA (Ask-Me-Anything) session that KuCoin will have with a professor from Terra Technology!

The AMA session will start tomorrow at 14:00 (UTC) on Telegram. You probably have many questions regarding LUNC, so feel free to post them here. All eligible users who do so will be entered to win an equal share of a giveaway prize of 500 USDT!

Closing Thoughts

Terra Classic (LUNC) made a spectacular comeback, demonstrating that it was stronger than ever after its collapse in early May 2022. We were all led to believe that LUNC's value will be bullish in the long run.

Additionally, KuCoin is giving its full support for Terra Classic (LUNC), which is trending and trading strongly, by awarding $1,000,000 to LUNC depositors and traders and hosting an AMA session so that we can learn more about the said cryptocurrency.

I suppose it's feasible that I'll invest in this promising cryptocurrency given LUNC's significant value growth potential. Sincerely, I hope that LUNC will be successful and that its long-term bullishness will persist.

Cryptocurrency discussions / My Thoughts about Bringing Cryptocurrency to the Classroom

« on: August 26, 2022, 01:48:09 PM »

Image from Financial Times

The idea to bring Bitcoin into the classroom was first suggested by Philip Karageorgevitch, the Prince of Serbia. Prince Philip is a self-described Bitcoin (BTC) maximalist, and in an online article shared by Cointelegraph, he stated that the reason why he wanted to bring Bitcoin into the classroom is that kids need to understand what it is all about. In addition, the Prince also stated that Bitcoin is freedom and this is something that everyone wants.

Imagine if teachers are educating students from ages 6 to 14, about how an investment works and will have a fair amount of knowledge about stocks and crypto. That seems to be a good financial education on the kid's part. But is it really a good idea to teach kids about crypto at such a young age?

I did a little research and found out that while some parents are happy if their kids will be made aware of crypto and investment, some parents say that kids are too young for crypto investment and may just also see it simply as a get-rich-quick scheme.

Impact of Cryptocurrencies on Future Generations

I became involved in cryptocurrency months after I graduated from Highschool. I can’t imagine how different my life would be if I discovered crypto during my teenage years. Apart from how life-changing cryptocurrency is to me, it also completely changed the way I view money and how important it is.

Having the mindset to invest at a young age is astounding if you ask me. As a crypto enthusiast, I believe that the younger generation is the one who will lead cryptocurrency to bigger, mass adoption in 10-20 years. No doubt, the future in crypto will be massive.

While it makes me happy to imagine kids learning how investing in crypto works, I also think that Kids should be kids. They should put their attention first on a love of learning, hobbies, relationships, and learning how to make themselves happy. Putting too much attention on money or finances at a young age can send the message that it is the most important thing even when it is not.

On a general note, I’m looking forward to seeing kids grow up and develop an interest in matters like these while knowing the danger in this too.

Incentivised Posting / Shill / UMA: What is it and How it Works

« on: August 23, 2022, 08:33:40 AM »

Image from CyptoSlate

From a technical perspective, UMA which stands for Universal Market Access is an optimistic oracle (OO) created with the purpose of recording any knowable truth onto a blockchain. But in the simplest way possible, anyone can push an answer on a chain, and there will only be a dispute if the information is inaccurate. Plugging into the optimistic oracle does not require using a contract launched on UMA

It was on 2017 when UMA was co-created by Hart Lambur. Not long after the UMA project whitepaper was revealed in December 2018, the developers made an official announcement about the formal launch UMA project made an introduction about the USStocks token, the first product on the core network.

UMA’s Concept of Action

Uma defines a decentralized protocol to enable the creation, purchase, and settlement of financial contracts for any underlying asset and introduces novel systems for maintaining margin collateral to enable market participants to trade without counterparty or settlement risk.

UMA does this by defining a generalized framework upon which financial contracts can be defined with mutually agreed economic terms, termination terms, and margin requirements. The UMA protocol uses smart contracts on the decentralized Ethereum VM to implement self-policing margin accounts: this allows the UMA protocol to be fully trustless and decentralized.

According to an online article written by Binance, there are three actors in UMA’s Optimistic Oracle system: the requester, the contract requesting the data; the proposer; an off-chain actor, offering the data; and the disputer, an off-chain actor that is able to dispute prices they disagree with.

UMA is not just a Standard Price Feed Oracle

Optimistic Oracle of UMA came up with human-powered data dispute resolution between contracts through the Data Verification Mechanism (DVM).

Compared to standard price-feed oracles that are unyielding, and tight, UMA prepared a method to reconcile inaccurate or incorrect data between smart contracts. OOs are much more versatile than other oracles because they can produce different and any kind of comprehensible correctness and authenticity from off-chain, like a sports score, weather conditions, or election results.

Closing Thoughts

Since the UMA’s Optimistic Oracle launch in 2018, it has grown rapidly and received a lot of praise. It has even secured hundreds of millions of dollars and the results even exceeded our expectations.

Anyone can be recompensed by proposing answers to price requests, and that is the lifeblood of the protocol. Proposed data will not be scrutinized unless it is disputed, and disputes are infrequent. And I can say that what makes the oracle optimistic.

Incentivised Posting / Shill / sKCS: The First Liquid Staking Protocol on KCC

« on: August 22, 2022, 10:03:37 AM »

Image from Businesswire

KuCoin, the world’s leading digital currency trading platform, announced that its venture capital arm – KuCoin Ventures had made a strategic investment in sKCS.io. the first liquidity-staking protocol based on the KuCoin Community Chain (KCC).

This exciting announcement was made on August 4, 2022, the same day sKCS.io was launched on KCC. In addition, The KCS Management Foundation, a governing structure responsible for developing the KCS ecosystem, joined the investment round.

According to Duke Smith, the CEO of sKCS.io, "Liquidity is critical for crypto assets. It is an honor to receive a co-investment from KuCoin Ventures and the KCS Management Foundation. With the support of both parties, we will work to build the KCC ecosystem and facilitate the free flow of asset values."

Defining sKCS.io

Image by CoinTelegraph

As was mentioned above, SKCS.io is a liquidity staking protocol for KCS on KCC and is an underlying asset protocol on KCC, which relies on the staking performance of KCC and takes KuCoin Token (KCS) because of the asset beacon. This means that users can stake KCS into sKCS.io, obtain sKCS, and can make use to take part in different DeFi merchandise to acquire greater returns or unstaked again to KCS at any time.

One of the main goals of sKCS.io is to help users experience the composability of DeFi protocols in a single click, considering that sKCS.io is an underlying asset protocol on KCC. What made these yields even more attractive is the fact that sKCS.io is committed to providing users with a convenient and simple product with stable returns, allowing users to stake KCS and get sKCS. Additionally, sKCS can be used to take part in other DeFi products to acquire higher returns or unstake to KCS at any time.
Staking the KCS that users interact with us into KCC validators is one of the important tasks of KCS.io. Therefore, how to choose a trustworthy validator is also a problem that we attach great importance to.

To Sum it Up

Although still in its infancy, sKCS has grown rapidly and received a lot of praise. At the time of writing, nearly 104,000 KCS are staked in the sKCS.io. with 158.684 rewards already paid out and an APY of 5.54%. No wonder why it abruptly climbed up to one of the most mentioned projects around the edge of various social interaction sites. With these impressive numbers, it is not possible that SKCS.io becomes. the next underlying DeFi protocol of KCC.

I’m fairly certain I'm not the only one who was astounded by the great progress that sKCS has made. Did the results exceed your expectations too? Let me know your thoughts!

Banks & Cryptos / SHOULD MEME COINS BE TAKEN SERIOUSLY?

« on: August 16, 2022, 09:39:20 AM »

Image from the Cryptonomist

Bitcoin, Ethereum, and, Tether are one of the largest cryptocurrencies in terms of market capitalization, user base, and, popularity. However, the three mentioned decentralized money is not the only cryptocurrency circulating on the crypto market right now. For someone who spends a lot of time on crypto like me, chances are you've heard of Meme currency. Now, to anyone who is not a crypto savvy that I once was, let me tell you a piece of information about Meme coins.

Defining a Meme Coin

In late 2013, The world’s first Meme coin was created when Dogecoin was released after being created as a joke on the Doge Meme by two software engineers, Marcus and Jackson Palmer. They had no idea that their creation Dogecoin would become the world’s most popular Meme coin, awakening community sentiment that is beyond compare within the industry. In March 2022, there were more than 200 Meme coins circulated on the market. Dogecoin and Shiba Inu are the most Notable and traded Meme coins as of June 14, 2022.

I'm pretty sure I'm not the only one who was left stunned by the exponential growth and progress of Meme coins. As we all know, Most of these Meme cryptos are created based on jokes or Memes as we so like to call them. For the most part, they were introduced for fun and entertainment, hence, they were not seen as anything beyond this.

Is it Safe to Invest in Meme Coins? Is It Even a Good Investment?

Image from Binance Academy

As everyone knows, Cryptocurrencies are inspired by collaborative investors and online platform trends. One of the reasons why Meme coins become so popular was when the business magnate and investor, Elon Musk promoted the use of Dogecoin. In addition to that, we have seen how he continues to post tweets about Dogecoin in 2022, including that one tweet in January where he declared that if McDonald's will start accepting Dogecoin as payment he would eat their famous Happy Meal on live TV. And since their engagement is primarily based on pop culture, they are tremendously volatile and vulnerable to rapid price fluctuations.

When a token becomes massive and its market price increases, normal investors may get on board, further bumping up its value. Popular online celebrities and influencers are also supporting to magnify and enhance the popularity of various Meme currencies.

Unlike Bitcoin, Meme coins often have a limitless supply. And because of that, it's not advisable to be financially dependent on Meme coins considering their immeSPAM BANble supply and volatility, they are fundamentally high-risk investments.

What Lies Ahead for Meme Coins

While It may not be easy to gain financial benefits from Meme-based tokens, we can't tell that the danger of investing in them will happen day and night. Also, since there are hundreds of Meme coins in the market, chances are some Meme coins may be very profitable over short periods and result in large returns.

The price of Dogecoin, for example, increased by 17.9% during the last 30 days. At the time of writing, Dogecoin’s market capitalization is roughly $9.7 billion and it has increased 5% against the U.S. dollar during the last 24 hours. In terms of global trade volume, $450 million worth of DOGE swaps took place during the last day. Since these currencies are so volatile, even the most modest investments may provide big returns.

To Sum it Up

I do agree that almost all of the Meme coins lack anything like fundamental value or unique use cases and are inherently risky at this point in time and very volatile. However, this does not imply that their fate has been decided considering that the fate of some Meme coins might be brighter due to a few trends. Still, they may never be able to achieve the same level of broad adoption as more cryptocurrencies like Bitcoin and Ethereum.

But how about you guys? What are your thoughts about Meme currency? Let me know your thoughts! Thank you for reading and I appreciate your thoughtful responses! As always, keep it classy and civilized, please!