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Solana(SOL) Price Rallied More Than 50%

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Solana(SOL) Price Rallied More Than 50%

According to the recent announcement, Solana, which is a fast, secure, and censorship-resistant Blockchain, has rallied more than 50%. Such upsurge in Solana is due to new projects conducting airdrops on SOL blockchain and high Ethereum fees that have pushed investors to explore more economical and affordable options.

Solana is a secure and censorship-resistant blockchain that provides open infrastructure. It is a high-performance cryptocurrency blockchain supporting smart contracts and decentralized applications(dApps) to provide decentralized finance solutions. SOL is a cryptocurrency native to the Solana blockchain.

In the past few months, projects that have issued token airdrops have emerged. One such project is Solana that utilizes Blockchain technology.

Although Solana isn’t explicitly making a collective effort to launch these projects, its main decentralized exchange, Serum known as SRM, was responsible for the recent COPE airdrop, which distributed 2,000 tokens to users who participated in the shared DeFi hackathon held by Solana and Serum. 

The airdrops by Uniswap (UNI) and MEME are going to be remarkable as it was noted that users were rewarded with profits from $20,000 to $600,000 for holding the tokens.

According to the announcements, after the airdrop, COPE eventually listed on Serum(SRM) for $0.50 on March 30, and the token’s price rose to a high of $5.43 on April 11. It was noted that after the airdrop, the rewarding holders profited with a $10,860 reward.

The success of the COPE airdrop proposed a series of token launches and airdrops such as HOPE, ROPE, and KOPE, whose launches on the Solana have coincided with a 55% rise in SOL price since the beginning of April.

Airdrop Era Has Begun

Recently on Twitter, the list of new and emerging projects building on Solana was mentioned, including Hedgehog, Solstarter, Hxro. Network, Step Finance, COPE, Synthetify, and others. Solana’s Twitter feed hints that its ecosystem is just getting started, and there is a lot more for all.

As more and more DeFi apps are emerging, all fighting for users’ attention, experts believe that the airdrop trend will continue in the years to come. 

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council.  

Solana(SOL) Price Rallied More Than 50%

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3 Latest Blockchain and Crypto-Related Announcements That You Should Know

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3 Latest Blockchain and Crypto-Related Announcements That You Should Know

This article talks about the 3 latest announcements related to Blockchain and crypto space that every Blockchain enthusiast must know. 

Table of Contents 

  • Overview
  • Latest News and Announcements This Week
  • New Kind of Network(NKN) Price Rallied to a New All-Time High 
  • Indian Tech Giant’ Tech Mahindra’ to Launch Stablecoin Tool for Banks
  • India’s Largest Cryptocurrency Exchange, WazirX Launches NFT Marketplace
  • Concluding Lines 

Overview

The uncertainties in 2020 have resulted in a cryptocurrency boom. Blockchain technology has proven to be distributed, transparent, safe, and reliable. Right from its use-cases in finance to supply chain and healthcare, Blockchain has its use-cases in every domain. 

As this sector is booming and shows no sign of slowing down, Blockchain and crypto always remain in the limelight. Let’s talk about top announcements related to this domain.

Latest News and Announcements This Week

In this section, let’s talk about the latest news and accomplishments in the crypto and blockchain domain.

  • New Kind of Network(NKN) Price Rallied to a New All-Time High 

Backed by Blockchain Technology, a New Kind of Network, also known as NKN, is a new type of peer-to-peer(P2P) network connectivity protocol that uses economic incentives to promote users on the internet to share and distribute their network connections and employ unused bandwidth.   

This network has risen 1,400 percent from a low of $0.052 on March 8 to a new all-time peak of $0.779 within two days on April 6, making it one of the month’s unexpected risers.

According to its official website, since its launch in starting in 2018, the project has steadily expanded its active population to become the “world’s largest blockchain network in terms of full consensus nodes,” with 67,266 nodes already running on the network with the capacity to host millions of full consensus nodes. Following Binance’s announcement on March 11 that NKN holders could gain 20% APY on their assets if they deposited them into their Binance savings account, the NKN price began to rise.

  • Indian Tech Giant’ Tech Mahindra’ to Launch Stablecoin Tool for Banks

Indian tech firm Tech Mahindra is revealing and developing a new stablecoin service targeting financial institutions and banks. The tech giant has collaborated with Dutch blockchain application incubator Quantoz to launch a “stablecoin-as-a-service” tool to lessen transaction fees and processing rates.

As a part of the announcement, Rajesh Dhuddu, Blockchain and cybersecurity leader at Tech Mahindra, expressed his views and stated that the recent OCC statement promoting the use of stablecoins for the settlement of financial transactions by banks would drive demand and accelerate innovation in global payments.”

Tech Mahindra’s collaboration will help users integrate Quantoz’s Nexus transaction processing platform into their legacy infrastructure. 

  • India’s Largest Cryptocurrency Exchange, WazirX Launches NFT Marketplace

Another big announcement related to Blockchain and crypto space came from one of the leading largest crypto exchanges, WazirX. Recently, the Indian-based crypto exchange platform announced that it is launching the NFT marketplace for the exchange of digital art, assets, intellectual property, and more. This announcement comes after a strong month for the exchange’s in-house WRX token.

WazirX founder Nischal Shetty believes that it is the first of its kind in India. He further expressed his views regarding the launch and stated that his entire team is delighted to launch India’s first Non-Fungible Token marketplace. As a part of the launch, he explained that creating and listing NFTs will be free on the platform, and work is apparently underway to repeal the bedrock gas fees that increase when minting NFTs on multiple Blockchains. He further stated that, at present, his team is working around certain basics to make NFTs more profitable for their customers.

Concluding Lines 

Apart from these announcements, the XRP price surges 55%, as it has renewed its aim on the creation of a cross-border payment network. The number of crypto projects has also risen, according to Cointelegraph. It says that a new benchmark has been achieved, with the market capitalization of 100 cryptocurrencies reaching $1 billion.

If the domain of crypto and Blockchain interests you, you can get enrolled in Blockchain Council and become a Certified Blockchain Expert. 

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council.  

3 Latest Blockchain and Crypto-Related Announcements That You Should Know

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A Beginner’s Guide: Hedera Hashgraph Vs. Blockchain

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Hedera Hashgraph Vs. Blockchain

Wondering how Hedera Hashgraph differs from Blockchain technology? Well, you have landed on the right page. This article explains what Blockchain and Hedera Hashgrah is and how they differ. 

Table of Contents 

  • What is Blockchain Technology?
  • What is Hedera Hashgraph?
  • How It Differs From Blockchain?
  • Concluding Lines

What is Blockchain Technology?

Before we move on to understand Hashgraph, we just need to get a glimpse of what Blockchain is all about and why it is so hyped? 

So, Blockchain is a peer-to-peer, decentralized distributed ledger technology that maintains the history of transactional data (records) without involving any third-party intermediaries. As the name suggests, in Blockchain, the key concept is the blocks where records are stored safely, and there is no way data can be changed or forged in any way. Its ability to offer complete transparency, immutability, privacy, and security makes it an exceptional technology, but it has some drawbacks too. One of the notable problems that the current Blockchain-based solution is the transfer speed associated with them. Like for instance, Ethereum Blockchain allows 15 transactions per second, whereas Bitcoin allows only 5 transactions per second. Moreover, sometimes, Blockchains can be slow and cumbersome, especially when the user number increases on the network. 

What is Hedera Hashgraph?

Hedera Hashgraph describes itself as the only public decentralized distributed ledger that utilizes the fast, fair, and secure hashgraph consensus mechanism. 

Just like Blockchain, Hashgraph is another DLT devised by Leemon Baird and licensed under the Swirlds Corporation. In fact, it is an improved version of distributed ledger technology that offers security and decentralization by utilizing hashing. Here it is important to note that Hedera is unique and capable of achieving the same result as the most ubiquitous public blockchains, but in terms of energy efficiency, stability and security, it is way better. 

The best part is that, unlike Blockchain, Hedera can process thousands of transactions per second, and thus it doesn’t suffer from the speed difficulty.

Hashgraph lacks a chain of blocks, and to improve its overall efficiency, Hashgraph uses two algorithms, such as Gossip about Gossip and Virtual Voting. 

How It Differs From Blockchain?

Bandwidth and Transaction Speed

Unlike a traditional Blockchain that utilizes Proof-of-work(PoW), which selects a single miner to choose the next block, Hashraph uses gossip-about-gossip and virtual voting as consensus mechanisms. By utilizing these consensus, the hashgraph comes to a consensus on the validity and the consensus timestamp of every transaction. And if the transaction is valid, the state of the ledger will be updated in order to include the transaction with 100% certainty. 

Hashgraph technology is known to provide almost near-perfect efficiency in terms of bandwidth usage and high transaction speed (because transactions can be processed in parallel) compared to the traditional Blockchain. 

Blockchain has a transaction speed of around 100 to 1000 based on protocol implementation like ethereum, hyperledger, etc., whereas Hedera can support 500,000 transactions per second.

Transaction Cost 

When it comes to transactional cost, Hedera Hashgraph outperforms compared to Blockchain. Hedera’s transaction fees are under 1 cent, whereas in Bitcoin, an average transaction fee keeps fluctuating and is around 14.84 (at the time of writing).

Due to its advantages over Blockchain, Blockchain Experts and technocrats believe that Hashgraph could be the next wave of blockchain technology, allowing developers to create apps with high speed, reliability, and security.

 High Computation Power and Electrical Supply

Another advantage of Hedera over Blockchain is that it does not need high computational power and high electrical supply, unlike Blockchain, where mining for the cryptocurrency is power-hungry, involving heavy computer calculations to verify transactions.

Hedera Hashgraph is Fairer 

Hedera proves to be fairer than Blockchain as miners can choose the order of transactions, can delay, or even stop from entering the block if required. But Hedera uses a consensus of timestamps, which prevents people from changing the transaction orders.

Are There Any Drawbacks?

Hashgraph is an innovative technology, but there are some drawbacks. The first and the foremost limitation is its acceptance as it has been deployed in a private and permission-based network and needs to be tested in a public network. Blockchain Experts believe that Hedera Hashgraph’s technology is fascinating, but it is exceptionally intriguing, whose effectiveness can only be realized until it is opened to the public and implemented on a non-permission-based network.

Concluding Lines 

This has brought us to the end of our discussion. Hope you have gained a clear understanding between the Hedera Hash graph and Blockchain technology. 

If the domain of Blockchain interests you, you can get enrolled in Blockchain Council and become a Certified Blockchain Expert. 

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council. 

A Beginner’s Guide: Hedera Hashgraph Vs. Blockchain

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How Can Blockchain Reduce Cyber Risks?

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How Can Blockchain Reduce Cyber Risks

If you are new to the concept of Blockchain and wondering what roles it plays in reducing and preventing cyber risks, this article has got you covered. Let’s delve deeper and get started.

Table of Contents 

  • Overview 
  • Role of Blockchain in Combating Cyber Risks
  • Concluding Lines 

Overview 

As technology is progressing, the vulnerability risks associated with cybersecurity are catching up at a rapid rate. Considering the complexity and risk associated, there is an urgent need to protect the entire system.

Today, cyber-attacks have become more complicated due to advanced ransomware and the increasing threat of professional cyber organizations. Blockchain is gaining momentum these days as a result of the rising incidence of cyberattacks. Blockchain describes itself as a peer-to-peer(P2P), decentralized distributed ledger that operates without involving any central authority. Due to its decentralized, immutable, and transparent nature, Blockchains can help in improving cyber defence and preventing fraudulent activities from taking place.

Want to gain an in-depth understanding of Blockchain and become a Certified Blockchain Expert? We are here to assist you.

Role of Blockchain in Combating Cyber Risks

Let’s delve deep and explore the role of Blockchain technology in reducing and preventing cyber risks.

Authentication and Authorization control

Restricting only authorized parties to access the appropriate task is one of the common concerns for organizations. In public Blockchain, there is no need to control network access as everyone has the right to participate and access the entire network. But private Blockchains require appropriate security controls to protect network access from unauthorized users. But as the technology is advancing, it is incorporating authentication and authorization controls to provide authentication, authorization, and encryption to adequately guard data access. 

But what if by chance an attacker or any third-party gains access then? In that case, he will not be able to read or retrieve any information stored on the Blockchain network. Thus technology helps maintain confidentiality by utilizing cryptographic algorithms, which are hard to break. 

Use-Case in Threat Intelligence 

Threat intelligence is a high-level process that involves gathering valuable insights about an emerging or existing cyberthreat. But the major issue related to threat intelligence is that companies spend a lot of time researching the same threats, while others are left unnoticed. Blockchain, with its decentralization, peer-to-peer oriented architecture, can help in maintaining synchronization between different parties, thus transforming the threat intelligence process. 

Moreover, Blockchain’s decentralized infrastructure also acts as an anti-tampering infrastructure that helps detect everything in real-time. Even if an attacker tries to delete every proof of his presence by deleting every log which can link him with an incident, Blockchain’s immutable design does not let it happen.

Data Consistency and Integrity

Maintaining data consistency and ensuring Integrity is crucial for all organizations and enterprises. Blockchain’s ability to offer immutability and transparency ensures data integrity. Technology makes use of sequential hashing and cryptography, and this combination makes data tempering almost impossible. The technology ensures that all transactional records are digitally signed and timestamped, meaning organizations can trace back each transaction and identify the corresponding party whenever required. In the Blockchain, non-repudiation is ensured, meaning no one can deny the transaction and behavior in the transaction, which further ensures the reliability of the system.

Ensures Accuracy and Quality of the Information 

Blockchain helps prevent cyberattacks, but it also helps in ensuring accuracy and maintaining the quality of information. While it can not guarantee or enhance data quality, it is responsible for the information’s accuracy and durability after it has been entered into the Blockchain. As long as the data input is reliable, Blockchain technology can act as a powerful tool for transforming data output, as the technologies’ near real-time capabilities allow companies to validate transactional data quicker and take more constructive measures.

Ensuring Timely and Reliable Access

Availability is another use-case where Blockchain could be put to use. DDoS, being one of the most common types of attacks, can cause the most disruption to internet services, and Blockchain can provide a viable solution in dealing with this. Although technology has already suffered from a DDOS attack in the past, this is something that is not frequent.

DDoS attacks on blockchains are not regular. This is because they are costly as they strive to defeat the network with large volumes of small transactions.

Concluding Lines 

As we have read, it is clear that Blockchain is much more than just cryptocurrencies. It has the potential to be applied to multiple industries as a trusted infrastructure. As far as you will dig Blockchain, you will realize its capabilities and possibilities, ranging from a vast spectrum of functionalities and covering various use cases. The true potential will be realized in the subsequent years that will decide where Blockchain will stand?

If you want to gain a complete understanding of Blockchain’s inherent security features and associated risk and knowledge of best security practices for Blockchain infrastructure, you can enroll in Blockchain Council and become a Certified Blockchain Security Professional.

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council. 

How Can Blockchain Reduce Cyber Risks?

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Crypto Businesses Granted Liberty to Operate at DMCC in Dubai

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According to the recent announcement, crypto businesses have been granted the freedom to operate in Dubai Multi-Commodities Centre (DMCC) once registered licenses are admitted.

The report mentions that DMCC has entered into a memorandum of understanding (MoU) with the SCA (Securities and Commodities Authority) to build a regulatory framework for corporations endeavoring, issuing, and trading crypto assets in Dubai city.

This strategic alliance intends to foster growth and development by bringing Blockchain and cryptographic technologies ecosystem in Dubai city.

The Dubai Multi Commodity Centre (DMCC) was founded in 2002 as a government body tasked with improving commodity exchange flows across Dubai, involving approximately 18,000 businesses from various areas and industries.

Agreement to Foster Growth and Promote the Development of Blockchain Applications in Dubai

According to the announcement, the SCA will grant permits for crypto-related companies seeking to set up in DMCC, collaborating closely with the onboarding departments at DMCC. Following that, the SCA would control crypto operations in compliance with their policies, which were declared last year in October 2020, in order to create an interconnected environment for the crypto and Blockchain industries.

Ahmed bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, also talked about the agreement. According to him, this collaboration builds the foundation for coming partnerships in the crypto domain. Furthermore, he believes that this is a big step toward the opening of the DMCC Crypto Centre, which we will bring to the market in the upcoming years.

Bin Sulayem appears delighted with the partnership with SCA as he mentioned that cutting-edge developments are at the core of our policy, and they will play a vital role in future trade development across Dubai. In his words, “We are able to develop and grow the centralized supervision of the crypto sector to our business district in Dubai by partnering with SCA.” 

DMCC is making it simpler for crypto and blockchain enterprises to set up and operate in Dubai city. In 2020, it was reported that DMCC established an agri-commodity trading and sourcing platform named Agriota E-Marketplace based on Blockchain technology to link Indian farmers with the UAE food sector.

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council. 

Crypto Businesses Granted Liberty to Operate at DMCC in Dubai

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Bank of America Considers Decentralized Finance as a Radical Change to Mainstream Capital Markets

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Bank of America Considers Decentralized Finance as a Radical Change to Mainstream Capital Markets
According to the latest announcement, Bank of America considers decentralized finance (DeFi) potentially more disruptive than Bitcoin. 

Although Bitcoin is the most popular cryptocurrency, Bank of America believes that Ethereum Blockchain is more prominent and has more advanced features, such as flexibility in its hosting of DeFi, than the first-ever cryptocurrency, Bitcoin. 

DeFi refers to the shift from centralized financial systems to peer-to-peer (P2P) finance that does not rely on third-party intermediaries; instead, it utilizes smart contracts on blockchains, Ethereum being the most common one.

The bank perceives DeFi space as a radical change to mainstream capital markets but believes that it has to go a long way in comparison to mainstream finance.

Bank Sees DeFi Potentially More Disruptive Compared to Bitcoin

In its recent report, “Bitcoin’s Dirty Little Secrets,” Bank of America expressed its views regarding the most popular cryptocurrency till data, Bitcoin, mentioning that the only good reason to invest and own BTC is when you see its prices going up.

The bank also calls central bank digital currencies “kryptonite for crypto,” but it is influenced by decentralized banking, which it describes as “potentially more destructive than Bitcoin.”

Despite Bitcoin’s hitting $57,788.29 at present, Bank of America considers decentralized finance more disruptive. 

According to Bank of America, “DeFi has witnessed a lot of innovation among exchanges. Bank of America further explains that the important factor here is that many of the roles that are distinct in fiat trading are done on-chain by utilizing distributed ledger technology. It also mentioned DeFi services, from derivatives to asset management, as measures of growth.

Bank believes that when it comes to scalability, Ethereum outperforms compared to Bitcoin. The report also highlighted some of the issues associated with Ethereum, such as speed, block size, the price of ether, and so on.

As the price of Bitcoin and Ether has reached new highs, the total value locked in decentralized finance has soared as well. Apart from BTC and ETH, numerous tokens have reached new all-time highs, taking DeFi total market capitalization to new heights.

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council. 

Bank of America Considers Decentralized Finance as a Radical Change to Mainstream Capital Markets

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