With over 1.25 million users globally, Exodus is one of the most popular non-custodial crypto wallets. It’s available on mobile and desktop, and it just partnered with the Elrond Network to give users direct access to native EGLD. Elrond is a highly scalable, fast, and secure blockchain platform for distributed apps, enterprise use cases, and the new internet economy. It uses sharding technology to improve the speed and scalability of the blockchain.
The Elrond network is live and capable of processing thousands of transactions per second with a $0.001 transaction cost and a 6-sec latency. This new partnership will grant Exodus’s users access to Elrond’s platform and features. =
Elrond can be run on normal PCs, unlike other blockchain protocols that require complex CPUs with a lot of computing power. Elrond, according to its whitepaper, is the first network to incorporate all three sharding components simultaneously in a single network design.
Because Elrond’s network is based on low-cost computers, transaction costs are likely to be lower. In terms of speed, affordability, and usability advancements, Elrond stands apart from the competition. eGold, or EGLD, is the native coin, and it is used to pay for network fees, staking, and rewarding validators.
Previous Partnerships
Elrond has entered into several partnerships with other projects to also improve its platform. Elrond and Ardana teamed together in October 2021 to help EGLD’s collateralization efforts. The cooperation would allow cross-chain assets to be collateralized against Cardano’s Ardana network-based stablecoins.
Elrond plans to introduce EGLD as one of the Cardano network’s first non-native digital assets. Users will be able to use EGLD as collateral for the minting of the USD once the integration is complete. A two-way bridge connects Elrond and Cardano, allowing users to move EGLD back and forth. Companies may look into the possibility of bridging other assets, such as the Cardano-native ADA token or other tokens released on the two blockchains, in the long run.
About Exodus
By 2030, Exodus hopes to have empowered half of the globe to leave the established financial system. Exodus is a multi-asset software wallet founded in 2015 that eliminates the need for a techie and prioritizes design to make cryptocurrency and digital assets accessible to everyone. Exodus is a desktop and mobile wallet that allows users to secure, manage, and exchange cryptocurrencies such as Bitcoin, Ethereum, and others over industry-leading 10,000+ asset pairs. Non-custodial functionality is encrypted locally on users’ devices, ensuring privacy, security, and total control over their assets.
About Elrond
Elrond is a brand-new blockchain architecture built from the ground up to deliver a 1,000-fold increase in throughput and execution speed. Elrond accomplishes this by introducing two major innovations: a unique Adaptive State Sharding mechanism and a Secure Proof of Stake (PoS) algorithm, both of which enable linear scaling while also providing a quick, efficient, and secure consensus process. Elrond is seeking to become the backbone of a permissionless, borderless, globally accessible internet economy by processing upwards of 10,000 transactions per second (TPS) with 5-second latency and negligible cost.
In recent news, Grayscale, a leading digital asset investment firm, is launching a new product that provides exposure to Solana, one of the most popular digital assets globally. The Solana Trust will be the 16th option in Grayscale’s growing product range for institutional and high-net-worth investors.
The Solana network, like the Ethereum network, is one of several initiatives aimed at expanding blockchain’s utility beyond that of a peer-to-peer payment system. As an alternative to pure Proof-of-Stake (PoS) and Proof-of-Work (PoW) blockchains, the Solana protocol proposed the Proof-of-History (PoH) consensus mechanism.
Why Solana?
It’s simple to see why Grayscale would want to expose Solana to its community. Though its growth was reduced this month due to overall market turmoil, the blockchain’s native token SOL is still one of the finest assets in 2021, particularly among large cryptocurrencies, with a year-to-date gain of 687 percent. These returns surpass those of several of its main competitors, including Ethereum, Algorand, Cardano, and Polkadot, which are all seeking to be the leading platform for decentralized finance applications, non-traditional transactions, and cryptocurrency games. Avalanche, Solana’s only other big competitor, has increased 680 percent in 2020 but only has a fraction of Solana’s market valuation.
Solana is also the favored platform of Sam Bankman-Fried, the 29-year-old founder of crypto exchange FTX and the industry’s richest person with a personal fortune of $26.5 billion. His outspoken support for the network has been essential in raising its public profile among companies and builders.
Reaction to the New
Grayscale CEO Michael Sonnenshein reacted to the latest addition and pointed out that Grayscale is thrilled to extend its offerings and foster crypto adoption. He said, “For the last eight years, Grayscale has been at the forefront of offering investors efficient exposure to the ever-evolving digital currency ecosystem.“We have had a front-row seat to the mainstream acceptance and adoption of crypto and increasingly find that investors are diversifying their exposure beyond digital assets like Bitcoin and Ethereum. Our family of Grayscale products will continue to expand alongside this exciting asset class, as we remain committed to offering investors opportunities to access the digital economy.”
Speaking on why he chose Solana, Sonnenshein noted that Solana’s near and long-term potential in spotting new use cases for blockchain technology was a strong bait aside from its performance. He said, “What’s been interesting about Solana is that it gives users the ability to learn, experiment, and build. They generally have more budget to experiment on the protocol than some other more established blockchains like Ethereum, because of lower transaction fees.”
Bitcoin (BTC), Basic Attention Token (BAT), Bitcoin Cash (BCH), Chainlink (LINK), Decentraland (MANA), Ethereum (ETH), Ethereum Classic (ETC), Filecoin (FIL), Litecoin (LTC), Livepeer (LPT), Stellar Lumens (XLM), Zcash (ZEC), and Horizen (HOR) (ZEN) are Grayscale’s other product of which Solana will be joining.
Grayscale also provides thematic exposure to digital assets through its diversified products, Grayscale Digital Large Cap Fund, which covers the top 70% of the digital currency market by market capitalization, and Grayscale DeFi Fund, which tracks the CoinDesk DeFi Index through a market-capitalization-weighted portfolio.
Grayscale’s investment products are available through periodic private placements to institutional and individual authorized investors.
Members of the Photochromic community are getting set for the Photochromic IDO, which is set to hold today at 8 AM PST/ 3 PM UTC on CardStarter, a Cardano-based launchpad. Community members participated hugely during the whitelisting process and gave an overwhelming response.
Here’s a recap of the moments leading to the IDO.
IDO registration process
On November 8th, at 8 a.m. PST/3 p.m. UTC, the registration process for IDO on PhotoChromic began. Users could register for the 96-hour window that ran from November 8th at 8 a.m. PST/3 p.m. UTC until November 11th at 8 a.m. PST/ 3 p.m. UTC.
Users were mandated to complete the following steps in order to register:
First, they had to stake a certain number of CARDS tokens to be eligible. Before engaging in the IDO with Fractal, PhotoChromic needed users to complete KYCThe user had to register for the IDO On http://pools.cardstarter.io/
Cardstarter provided the whitelisted addresses that satisfied the criteria needed ahead of the IDO after all of the stages were completed, and the registration window had closed.
How to participate in the IDO
The whitelisted wallet holders are to note the following :
Date of IDO: November 15th, 2021
Time of IDO: 8 AM PST/ 3 PM UTC
Duration: 24 Hours
Also, users should note that the PhotoChromic IDO has a $405,000 IDO pool with a $0.00045 IDO value. Furthermore, all whitelisted users can participate in IDO from the start by going to pools.cardstarter.io.
What this means for Photochromic
Photochromic has emerged as one of the top crypto projects expected to launch. Its offerings have been described as one of a kind, but the IDO has a huge role to play in how much success the platform is to expect.
Photochromic hopes to use this IDO to acquire startup funds and raise knowledge about its project and services within the flourishing crypto community.
The entire quantity of the project is 15 billion tokens, of which 21% will be sold in the Private Sale and IDO. It’s an Ethereum-based ERC-20 token that runs on the Ethereum blockchain.
The most adaptive use case is the ability of the platform’s token to connect a user’s identity to assets such as artworks, valuables, and records, which are used all over the world.
Also, Identity NFT token holders have complete control over the protocol and have the ability to attach their identities to both digital and physical assets.
The ultimate purpose of PhotoChromic is to empower a variety of industries that require increased identity verification by aiding them in the implementation of Web3 for better accessibility to safe services and goods. This IDO will also be used by PhotoChromic and CardStarter to promote the broad adoption of cryptocurrencies and blockchain technologies.
Charles Hoskinson of IOHK, in an exclusive video meeting with Forkast.News reveals it all from talking about countries in Africa, China in the 80s, and how Fortune 500 can benefit from crypto.
A news post on forkast highlights an exclusive interview with IOHK and Cardano founder Charles Hoskinson. Charles Hoskinson talks about how crypto is going to play a significant game in Fortune 500 companies’ future.
Besides, Hoskinson also feels that developing economies in Africa stand to benefit from it. Hoskinson truly believes that the Middle East needs a more straightforward mode of payment transfer system for local mode.
IOHK Media is a portal for journalists, and the press had this to tweet about Charles Hoskinson covering everything from governance, interoperability, and quantum computing.
Charles Hoskinson wants them to implement Cardano and the ADA coin as the solution. Hoskinson says that the Fortune 500 company must find new tools to blend into a new market sublimely.
In an interview with Forkast.News Hoskinson elaborated on the importance of breaking down the chains that prevent those jurisdictions, like in Ethiopia. Charles Hoskinson’s company is finding it quite hard to seep into the country, though they have been working for three years now.
Hoskinson feels that young Africans are ready to infuse with digital currencies. The economy in Africa remains fractured for quite a while now. This is an excellent time to make use of DeFi, decentralized finance.
Hoskinson wants the Fortune 500 companies to hear them when he says they will provide a way for accessing 100 million customers on their platform. These customers will then use the Fortune 500 companies products.
Hoskinson strongly believes that if his platform can work with Litecoin, it will surely easily work with Bitcoin. Cardano wants to design a top-notch method for interoperable blockchains; they need to be a method for cryptography to evolve.
Charles Hoskinson denies that quantum computing will harm blockchain. Hoskinson knows that it is not going to cause any problems with the sublime communication happening globally. However, nations that want to preserve secrets may suffer.
Besides, he adds, that Satoshi’s private keys can be accessed with Satoshi’s PGP key. Charles Hoskinson finds it difficult why people do not seem to understand the importance of moving from one system to another system.
The Ethereum co-founder wants to challenge Ethereum itself, saying users wish to use more utility beyond metadata. They want to store value count. Hoskinson signs off saying that if his company can move forward with the same momentum, they can be a force to reckon with.
World’s First Bank-Owned Cryptocurrency Exchange Opens in Japan
Adoption. That’s the key right? Once the masses adopt crypto, we can all retire early and talk about those crazy times when the overall market cap was only in the billions. Can you imagine the day? Well we’ve taken one step closer, in my opinion, as Japan becomes the first country where a bank owned exchange opens.
SBI group, founded in 1999, while relatively young have taken this first innovative step in the exchange world. In many cases crypto exchanges and companies find it extremely difficult to open accounts with banks, get credit, etc. because banks are very negative towards crypto. This could be a first step, and model, for future institutional investment.
SBI has opened up trading on its exchange named VCTRADE, and being a bank-owned crypto exchange, it is the first of its kind in the world. Japan is crypto-mad and has arguably the biggest cryptocurrency markets, which makes 20,000 pre registrations no surprise.
The overall cryptocurrency market had a wonderful week surging from $249bln to $281bln representing a 12% increase in the past seven days. Bitcoin lead the way and dragged everyone with it. Thanks BTC. The good news continues to flood in, as you will see below, and the crypto market keeps trucking along. Imagine for a moment a 1 trillion dollar market. We’re allowed to dream, right?
Bitcoin (BTC): BTC SURGED this week and blasted through the $7k mark increasing from $6,284 to $7,420 as of this post. Needless to say, the crypto community was losing their shi*t this week on twitter. Oh and has anyone noticed, as if out of nowhere, the bull charts re-appeared as if like magic.
Ethereum (ETH): Where BTC goes, crypto goes. Though ETH could not hold on to it’s high of $511 on Wednesday, ETH grew 6% to $463 as of this post.
Cardano (ADA): Dubbed “blockchain 3.0”, Cardano is a fully open-source, decentralized public blockchain and cryptocurrency project. It’s in fact the first blockchain platform to be built from peer-reviewed academic research, featuring some of the world’s foremost universities (among which are the University of Edinburgh and the Tokyo Institute of Technology).
Founded by Charles Hoskinson, former Ethereum CEO and early founder. Cardano has a 3 year roadmap split into eras, with each era featuring major improvement and introduction of some features. It’s currently in its bootstrap era, which they have named the Byron phase. In this current era, IOHK is working on stabilizing and tweaking its blockchain, and making significant improvements to the Cardano core.
As you can see in the graph below ADA had it’s parabolic phase, but swiftly retraced to it’s support of $0.20.
Congratulation to our winners of ‘An Altcoin Traders Handbook’! – Check your inbox for our email as we will need some additional details to send your winnings!!
Purse.io and BCH come together. Best use case to date? – Whether you are a Bitcoin maximalist or Bitcoin Cash aficionado, the fact is, fees are cheaper when using Bitcoin Cash and on On Friday, May 18, 2018, Bitcoin Cash (www.bitcoin.com) announced their partnership with Purse.io?
The Pirate Bay is crypto mining once again! – Piracy websites have faced backlash for years from governments and companies whose copyrighted properties have been infringed upon. In consequence, few reputable companies seek to do business with them, making it much harder for these types of sites to turn a profit. Queue crypto mining to the rescue!
Robinhood App Review – FINALLY! We finally get our hands on the Robinhood app and give it a thorough once over for your benefit. Fee less trading never felt so good. Check it out!
One Year Later: Comparing BTC to BCH (transactions/volume/github) – It’s been one year since the controversial fork of Bitcoin (BTC) to create Bitcoin Cash (BCH). We’ve writen about the two main figures of this fork, Jihan Wu and Roger Ver, in the past but today we want to look at the numbers. The cold.hard.facts. As President Trump would say……
India is Building a City with the Help of Blockchain– Newly formed Southern Indian State calls for a new capital. The nation decided to turn it into a state-of-the-art smart city. And that means using blockchain technology!
Malta Has Rightfully Earned Its “Blockchain Island” Nickname– Malta has long been known as the favorite destination of iGaming companies around the world. Now it seems the island is shifting from online gambling to the novel blockchain technology.
Etherpoly.io is launching a new decentralized Ethereum game – Etherpoly.io (OLY) is a new decentralized game in which users can interact by acquiring, improving and trading virtual cities. It is a new decentralized game in which users can interact by acquiring, improving and trading virtual cities. Read on for more details!
World’s First Bank-Backed Crypto Exchange Finally Opens to the Public – Japanese financial giant SBI Holdings formally launched its in-house crypto trading platform, dubbed VCTRADE, last month. Yet, as reported by CoinDesk at the time, the trading service was only available for a group of selected users who pre-registered with the platform last October.
Major League Baseball is going crypto – Later this summer, Major League Baseball digital collectibles are coming to the Ethereum blockchain. Lucid Sight, a blockchain gaming company, is launching MLB Crypto Baseball, through a licensing deal with MLB.
– The floodgates could be about to open in the cryptocurrency market. BlackRock, the world’s largest asset management firm, with $6.3 trillion in assets under management, is exploring bitcoin.
Schnorr is Looking Graceful to Become Bitcoin’s Biggest Change since SegWit– Last week, influential developer, Pieter Wuille uncovered a draft which outlined the technical makeup of the Bitcoin upgrade. Now, with stronger foresight and passion, Bitcoin upgrade is all set to enter the implementation phase.
South Korea Will Subsidize Blockchain Startups– The South Korean government has announced a plan to revise the current tax rules to widen benefits for companies that focus on the development of nascent technologies, including blockchain, as part of the country’s push for innovation growth.
Thank you for joining us for this weeks The Raven’s Dispatch! Don’t forget to sign up for our newsletter so you can receive notifications via email that a new Dispatch was released! Also if you have any interesting news you would like to submit contact us at info@cryptoiscoming.com
