blockchain

‘Back the Buidlers’ brings together a houseful of builders and supporters

Blockchained India continues to unite the greatest minds in the Web3 space, and this time through their Back the Buidlers unconference.

On December 3, Back the Buidlers welcomed a global community of builders, investors, and supporters at Marriott, Bangalore. The unconference was aimed at assisting builders with the best strategies to make it right in the bear market.

Organizer and Quick Glimpse

Back the Buidlers was hosted by Blockchained India and OG Club, together with Metapolis, the world’s first Metaverse-as-a-service platform, and CoinDCX, India’s largest crypto exchange.

It was supported by Drife, Token Amigo, Polkadex, GoSats, Riva Metaverse, My Own Internet, and Scrappy Squirrels.

The event was filled with much-needed and important discussions, networking sessions, and of course a gala dinner and music by the poolside. 

It marked the presence of key players from the industry who interacted with builders and guided, mentored, and supported them to thrive in the bear market.

“It lights me up to see the ecosystem has come so far without any support from the government or big institutions. Speaks a lot to the thought that nobody can stop an idea whose time has come. Together, the ecosystem has made so much happen and I see the future to be even brighter” – Akshay Aggarwal, Draper Dragon

The unconference continues gaining popularity among top Web3 professionals and enthusiasts because of its exceptional niche networking. 

Event Recap

The stage opened with a keynote address by Mohan Kuldeep Ponnada, Co-founder and CEO of Metapolis, who shared his vision of the metaverse, real myths, and giant opportunities. He added – 

“Back the Buidlers unconference has been an amazing platform for us to engage with the right stakeholders to bring the Metaverse vision to the next generation of change-makers and other ecosystem partners” 

This was followed by an excellent panel on “Investing strategies in the bear market.” The panel included investors like Rohit Jain from CoinDCX Ventures, Akshay Aggarwal from Draper Dragon, Aditya Saraf from Spartan, and Ankur Choudhary from Woodstock Fund. It was moderated by Sameer Malik from Token Amigo. 

With the changing market sentiments, the panel discussed various strategies and the KPIs (key performance indicators) that investors are focussing on. 

Yet another panel excited the audience with a fantastic topic– “Survival of the fittest: How to build strong companies in the bear market.” It was moderated by Akshay Aggarwal from Draper Dragon, with Mohan Kuldeep Ponnada from Metapolis, Gautham J. from Polkadex, Firdosh Sheikh from Drife, and Sameep Singhania from QuickSwap as speakers. 

The panel highlighted the need to not just build but “build a product that solves real user problems.” They also advised the audience to be choosy when launching a token and only launch it with a fantastic utility to it.

This was followed by the final session on “Myths and realities of building in the bear market” with Anantha R. Krishnan from MOI Protocol, Jagdish Pandya from Riva Metaverse, and Roshan from GoSats. The panel was moderated by Subhendu from OG Club. The experts shared the right approach to building for the new builders, which includes figuring out what the problem is and why Web3 is the key to solving this problem and then start building.

Wrap-Up

The unconference concluded with a high-class networking event at the Marriott poolside.

“Blockchained India did a fantastic job of getting together a relevant and highly curated group of people and facilitated meaningful conversations through both structured panels and informal interactions.” – Rohit Jain, CoinDCX Ventures

Experts are bullish and expect the next crypto year to be promising, while Blockchained India will continue to organize more such initiatives to help the industry prosper.

About Blockchained India:

Blockchained India is the largest and oldest Web3 community in India. It has supported budding Web3 startups in the ecosystem since the beginning. Now, the community focuses towards the widespread adoption of Web3.

Will Twitter Release Its Own Crypto Wallet For Users?

Leading tech blogger Jane Manchun Wong revealed to her Twitter followers that the social media behemoth is developing a prototype wallet for cryptocurrency deposits and withdrawals. 

According to Wong, the social media site plans to launch a cryptocurrency wallet, and it is currently developing a “wallet prototype” to handle “crypto deposit and withdrawal.”

Now the ability to tip content creators in cryptocurrencies like Bitcoin and Ethereum has been one of the many crypto-positive features that Twitter has been steadily rolling out. But what is ahead of this new take towards the Web3 world by Twitter?

Twitter’s Growth In the Past Year:

Twitter has rapidly adopted a pro-crypto stance over the past year and included features like tipping. Tips could be paid in cryptocurrency to any account on the social media platform using the option, which came into action in September of last year. This functionality was accessible through Cash App and other applications. In November, the platform also started the process of integrating Web3 apps.

Under the leadership of Tess Rinearson, a member of the council of the Interchain Foundation, a group has been assembled to collaborate and conduct research on crypto-related developments, blockchain technology, and decentralized applications. Their primary focus will be on blockchain and cryptocurrency research for the social networking website.

The Chief Executive Officer of Tesla, Elon Musk, is now in the midst of a contentious negotiation to purchase the microblogging site. The assistance of the largest cryptocurrency exchange in the world, Binance, and Sequoia Capital, an American venture capital firm, is being provided to the millionaire by these entities.

According to the sources who are acquainted with the subject, Binance intends to contribute a total of $500 million to the transaction, while the venture capital firm would spend approximately $800 million.

So Is It Really Happening? 

The well-known tech blogger Jane Manchun Wong recently revealed to her 139,900 cryptocurrency followers that Twitter is developing a prototype of a digital wallet that “will make it possible to deposit and withdraw cryptocurrencies.” The massive social media platform introduced a function in September 2021 that enables users to tip content creators with Bitcoin. 

Two years later, in February 2022, Ethereum was also a part of this rollout. Early in 2022, support for NFTs was added to Twitter, allowing users to replace the profile picture they had previously used with a piece of digital art.

It has yet to be officially confirmed whether or not Twitter will provide a cryptocurrency wallet. With this update, the microblogging and content creation platform might turn into a full-fledged web3 product if the new feature is implemented.

Wong is considered a reputable source because she claims that most of the information she uses is acquired in code that is freely accessible to the public. It is still being determined where Wong received the information. Twitter has not made a public announcement on a crypto wallet or an update to a feature, and the company has not commented on the matter.

What are your thoughts on this?

Celestia Labs Raised $55M For Launching Modular Blockchain Network?

Celestia is developing a modular consensus and data network to quickly make it possible for anyone to deploy their own blockchain with low overhead. The new modular blockchain architecture Celestia has developed is designed to accelerate the scale and rate of Web3 innovation over the next ten years.

The company behind the Celestia blockchain network, known as Celestia Labs, recently announced on Twitter the successful completion of its combined Series A and B funding round, bringing in a total of $55 million. The deal was led by the venture capital companies Bain Capital Crypto and Polychain Capital.

This financing helped propel Celestia into unicorn status by giving the company a valuation of one billion dollars, four times oversubscribed.

Coinbase Ventures, Jump Crypto, FTX Ventures, Placeholder, Galaxy, and Delphi Digital were among the other investors who took part in the round, along with several additional venture capital and angel investors. Before March 2018, Celestia completed a seed funding round in which it raised $1.5 million at a valuation that was not disclosed.

In response to the development of established Layer 1 blockchains like Ethereum and Solana, Celestia’s co-founder Mustafa Al-Bassam devised a modular blockchain architecture.

Mustafa Al-Bassam, the co-founder of Celestia, said that “Modular blockchains will define the next decade of Web3 innovation”. He adds, “For the past decade, crypto has been bottlenecked by an endless loop of new monolithic L1 smart contract platforms, each racing to the bottom to sacrifice decentralization and security to provide cheaper transaction fees. Web3 cannot scale within the constraints of a monolithic framework. We envision a blockchain ecosystem with modular data availability layers and integrated execution environments. We believe modular blockchains are the next generation of scalable blockchain architectures.”

Celestia Labs Approach With This Launch:

To ensure the success of this architecture, Celestia has simplified its layer-1 blockchain and is placing its primary emphasis on ordering transactions and providing data. Its distributed ledger technology does not support smart contracts or carry out computations. Interoperability, an essential feature of its modularity, allows these services to be delegated to other blockchains or other execution environments. As a result, these functions are performed by a third party.

This design aims to give developers the ability to scale out their blockchain networks rapidly and define their data layers and virtual execution environments. As a result, developers will be able to launch their blockchains for applications to run on in an analogous manner to how cloud services can launch new virtual servers.

A monolithic framework is not suitable for Web3, according to Al-Bassam. To this end, we foresee a blockchain ecosystem wherein data availability layers and execution environments are built out in a modular fashion. In our opinion, modular blockchains represent the future of blockchain scaling.

Celestia has been used as the data availability layer by three separate modular blockchain projects: the modular rollups chain Eclipse, the modular app development chain Constellation, and the modular Cosmos settlement layer dYmension.

When Celestia is the foundation for building modular blockchains, developers will gain increased scalability, shared security for interoperability between apps, and execution environment sovereignty. Developers can select their preferred virtual machine, such as the Ethereum Virtual Machine, the Solana Virtual Machine, zero-knowledge rollups, or any other compatible smart contract execution layer, thanks to the platform’s versatility and separation of execution and data levels.

Weekly Crypto News – 1st Week of October 2022

Are you an avid investor or participant looking for ways to make it in the crypto world? Now one of the most recent financial innovations and one of the sectors expanding at the quickest rate worldwide is cryptocurrency. Although the first cryptocurrency appeared on the scene 13 years ago, the use of and value placed on digital currencies has skyrocketed.

In fact, Bitcoin and cryptocurrency use has skyrocketed over the past two years. As of the year 2021, there was an estimated 300 million cryptocurrency users worldwide. The usage, demand, and innovation in the crypto world are only getting more significant, more prominent, and beneficial to those that dive into the profiting pool at the right time. 

But how do you keep up with everything in the blockchain industry, especially when more prominent and big corporate names have also taken their step towards customer service that links with the blockchain industry? Worry not – as we have you covered with all the latest and top news of events and upgrades that take place in the crypto world. 

So if you feel like you’ve missed out on your crypto news for October, Keep Reading!

October 2022 News:

Here’s a breakdown of all the latest Crypto news that will allow you to keep track of what happened in the cryptocurrency and bitcoin world in the first week of October:

  • Mastercard is planning to introduce a new product known as Crypto Secure, which will assist financial institutions in assessing the risk of criminal activity linked with cryptocurrency merchants on its network. The blockchain security startup CipherTrace, which Mastercard purchased a year ago, is the company that is powering the service.
  • Binance has been granted permission to conduct business in Kazakhstan.
  • In a drive to expand in the area and to grow crypto usage throughout Latin America, Binance has opened two new services in the country of Brazil.
  • ShopNEXT and Visa have partnered to develop the world’s first Web3 Loyalty Platform.
  • Visa is partnering up with FTX, a worldwide cryptocurrency exchange, to launch debit card services in forty countries, emphasizing Asia, Europe, and Latin America.
  • The historic Markets in Crypto-Assets (MiCA) law proposed by the European Union was approved by the European Council. The law will require approval in a subsequent vote to be considered successful in the European Parliament the following week.
  • The fact that Warner Music Group (WMG) is seeking to fill the position of senior director for metaverse development demonstrates that the company is actively working to broaden its Web3 strategy.
  • Do Kwon was instructed by the South Korean Ministry of Foreign Affairs to surrender his passport within 14 days, and if the passport is not returned, it will be administratively canceled.
  • In the city of Lugano, which has a population of 63,000 people and is located in the Italian-speaking part of Switzerland, McDonald’s has begun accepting Bitcoin and Tether as payment.

So this is all the latest and top Web3 news for the start of October 2022. Stay tuned for more latest updates.

UniLend Finance: Huge Price sours and Huobi Listing ahead of its V2 Launch

UFT/USDT Trading Pair now listed on Huobi Global

On September 30, UniLend Finance announced the successful listing of their token UFT on Huobi Global Exchange via the UFT/ USDT trading pair. 

In addition to being listed on Binance, GateIO, Uniswap and many major exchanges, the UFT tokens got listed on Huobi Global Exchange. Huobi Global Exchange is one of the world’s leading crypto exchanges with supporting over 1000 trading pairs and more than 600 cryptocurrencies. Increasing UFT exposure to Huobi’s hundreds of million users and bringing them to the world of permissionless borrowing and lending.

A closer look at what V2 has to offer

UniLend Finance is building multichain permissionless lending and borrowing protocol for All ERC20 tokens. UniLend is currently undergoing a major protocol update that will allow anyone to start lending and borrowing any ERC20 token just like anyone can start trading any token on a decentralized exchange (DEX) without approval/permission. Their vision is to act as a Futuristic Base Layer for all DeFi applications. 

UniLend Finance’s V2 brings the dual asset pools for lending & borrowing with price feed oracles and gas optimization. It also lists features like Flexible Lending, Flash Loans, Non-Fungible Liquidity, Concentrated Liquidations, On Chain Price Feed, Security and a Seamless User Experience. UniLend v2 mission is to “Make Every Digital Asset Productive”

As per the blog released by the team, UniLend v2 Code is already live on Github. Emphasising the importance of the security of the protocol,  V2 smart contracts are audited by two leading blockchain auditors, PeckShield and Slowmist followed by a Multi-Tier Bug bounty program with developers platform ImmuneFi.

Bullish Sentiment on Binance

With being listed on Huobi Global and long-awaited UniLend’s V2 upgrade approaching its launch, UFT price skyrocketed to 130% over the last month to a six-month high, gaining huge volume on Binance, the world’s leading crypto exchange.

The Path Forward

With V2, an era of a new financial system will impact the lives of billions of people with inclusion into DeFi. With more than 100 partners in the space, ongoing developments remain a top priority as the team continues to empower the DeFi ecosystem as it gets closer to deploying its eagerly anticipated protocol. With this significant protocol development, UniLend will be able to tap into the over $500 billion cryptocurrency market cap, holding its fundamental belief to keep a user-first philosophy at the centre of all its developments.

Having launched and witnessed phenomenal growth for V1 with 25+ asset lending pools and $50 million worth of Flash Loans utilised across 4 major blockchains: Ethereum, Polygon, Binance Smart Chain and Moonriver, UniLend is all set for V2, keeping its community at the heart of their development.