stepn

Stepn Web 3.0 Game – 20th May 2022

 

Overview:

STEPN is a Web 3.0 game where players earn crypto by walking, running or jogging.

The CMP of GMT on 20th May is $1.35

What is Stepn?

STEPN is a Solana blockchain-based Web3 app with GameFi components. It combines elements of a play-to-earn game with a fitness software to form a new category known as “move-to-earn.”

Users purchase NFT sneakers to earn in-game currency while walking, running, or jogging. It has two tokens within its ecosystem, they are GST and GMT. GST has an infinite supply and GMT has a max supply of 6B GMT tokens out of which only 600M (10%) are in circulation.

The dual-token economy concept meets STEPN’s functionality and fundraising demands. The major purpose of token generation is to avoid regulatory issues and to separate the project’s ecosystem into two tokens for simpler use.

How does it work?

Stepn is a move-to-earn cryptocurrency project. It essentially means that you earn money for walking, jogging or running. The project is very similar to a very popular game ‘Pokemon Go’, where the players had to run around. It was a physical game in contrast to sitting in one location and playing the game. But in this case, the players earn cryptocurrency instead of points.

It is available on Android and Apple. On Android, it has 1M+ downloads. To get started you need to have an activation key and purchase an NFT sneaker.

Sneakers have 4 attributes and multiple levels (common, uncommon, and rare). And the cheapest one is around 10 SOL which is close to $500.

By walking, jogging, or sprinting outside while wearing NFT sneakers, users may earn GST. GST may be spent to purchase new sneakers or to advance in the game. Players may lease or sell their NFT shoes on the in-app marketplace, and their GST earnings are kept in the in-app wallet, which includes a built-in exchange function.

It is a hands-on experience for folks who are transitioning from Web2 to Web3. Video games were the first to implement the ‘to-earn’ paradigm. Gaming is not for everyone, but walking or running is, which gives StepN a far larger audience. StepN also focuses on mobile devices, which the majority of people use to access the internet every day.

They are heavily influenced by the largest play-to-earn project, Axie Infinity which also has a two token model.

 

 

Tokenomics

STEPN has a dual-token approach, with GST serving as a utility token and GMT serving as a governance token. GST has an unlimited supply whereas GMT has a fixed supply of 6B tokens.

Green Satoshi Token (GST):- GST is a utility token, in which the users with NFT sneakers can earn GST by walking or running outdoors, or by “renting” out their NFT sneakers to other users. GST can be used to pay for digital items and upgrades. GST is the backbone for the entire Stepn ecosystem.

GST is earned by burning energies, where 1 energy replenishes 25% in every 6 hours and with one sneaker you get 2 energies in a day in which the move and earn time is 10 mins. The more sneakers you have the more energies you get. A brief table is given below.

 

Stepn users will find it very difficult to cheat and earn tokens. This is because Stepn has different types of sneakers with their own speed limits. If the user is moving beyond the speed limit, they won’t get any tokens. It also needs a strong GPS signal otherwise it will reduce the incentives. Below is the table of different speed limits for different types of sneakers.

 

So based on the above data, if any player has a runner sneaker, he/she will earn 12 GST in a day (as 1 sneaker has 2 energies/day) which amounts to $36. This is a great payout, however, there is a concerning aspect with respect to GST’s tokenomics. GST’s supply is infinite and is paid out as rewards and the GST’s utility is limited to the following tasks. 

 

These activities are primarily to improve your sneakers (your reward payouts) and maintain them. Eventually, there would be a ceiling to the upgrades to your sneakers and the payouts will be used primarily for selling it in the open markets. This will be fine as long as there are new players coming into the system with the objective of upgrading their sneakers and their rewards payouts at an accelerated pace.

When the pace of new players joining slows down, the selling pressure on GST is likely to increase. This will reduce the value of the rewards being paid out and will directly reduce the value of holding GMT.

Green Metaverse Token:-  GMT, a governance token, maybe spent to rename sneakers or level up to a high rank. GMT tokens can also be used to distribute premium game material or high-level activities and revenues.

It is important to note that only Level 30 and up sneakers are eligible to trade GMT for USDC.

In terms of GMT’s token distribution, 30% is reserved for move-to-earn rewards, and 30% is kept in an ecosystem fund. The development team holds 14.1% of the supply while 16.3% was reserved for private sales and 7% for public sales.

 

 

Competition Analysis

Genopets

Stepn is a new concept, however, it resides in the move-to-earn industry. ‘Move-to-earn is a new industry and Stepn is one of the first movers. This industry however has competition, Genopets. It is a move-to-earn NFT game on the Solana blockchain for doing activities in real life. It is the crypto equivalent to ‘Pokemon Go’.

 

Team, Media & Community strength

Jerry Huang is the co-founder of Stepn he has a track record of success in the information technology and gaming industries. Extensive experience in Operations Management, Marketing Strategy, Board of Directors, Human Resources, and Game Design.

 

 

Yawn Rong is the co-founder of Stepn, he is a crypto angel investor and start-up incubator. He also has experience in scaling small start-ups to national brands.

 

 

 

 

Jessica is the Central Statistics Officer (CSO) at Stepn. She has a proven record of over 10 years in high-end clients, consulting services, building great teams, and facilitating cross-industry collaborations.

They have over 563.3K followers on Twitter in less than a year. Since the token was launched in March 2022 it saw tremendous growth within weeks which shows that it got a lot of traction and its user base is growing quite well. The advisor group of Stepn is Scott Dunlap who is the VP at Adidas, William Robinson who is the Head of Acceleration at Alliance, and Jason Kam who is the founder of Folius Ventures. They have extremely strong backing from very powerful fund houses including, Binance, Sequoia, Folius Ventures, and more.

 

 

Conclusion

If health and investing are your two top goals, Stepn is without a doubt one of the most user-friendly and interesting tools to deal with. Experts in bitcoin education are optimistic about the project’s success. Being physically active and making healthy living choices has lately received a lot of attention, especially in the aftermath of the COVID-19 pandemic.

Pros:-

  • It is extremely user-friendly and simple to understand in the world of complicated concepts of cryptocurrencies.

  • It has great adoption as it has 1M+ downloads on Android alone.

  • ESG is becoming an important filter when it comes to investing and Stepn is one of the best options available out there.

Cons:-

  • The game is dependent on new users flowing in. If the pace of new users joining drops, the value of GST is likely to plummet which would indirectly impact GMT.

  • To start earning GST, one would have to buy the sneakers first. Which is a little expensive to begin with.

  • Stepn has been inspired by Axie Infinity, the biggest play-to-earn project. Its GST equivalent token ‘SLP’ has plummeted by 90%+.

 

 

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epns

EPNS Ethereum Push Notification Service – 13 May 2022

Overview:

The Ethereum Push Notification Service (EPNS) is a protocol that allows users (Wallet Addresses) to receive notifications.

The CMP of PUSH on 13th May is $0.5913

What is EPNS

The Ethereum Push Notification Service (EPNS) is a notification protocol that allows users’ wallet addresses to receive notifications. This implies that, by using this protocol, any DApp or smart contract, as well as any service, may deliver notifications to users regardless of platform.

EPNS also has a DeFi component that allows users to earn cryptocurrency in exchange for getting notifications. EPNS was born as a concept in January of 2020.

It has a fixed supply of 100M PUSH tokens out of which only 15M (15%) are in circulation.

They have over 5000 application downloads and over 44,000 subscribers.

 

What is DeFi?

DeFi refers to financial goods and services that are available to anybody on the Ethereum platform. The marketplaces are always open with DeFi, and there is no centralized authority to stop payments or deny you access to anything. Services that were formerly slow and vulnerable to human mistakes are now automated and safer.

 

What problems does it solve?

Among the many positive aspects of the web3 ecosystem is one major flaw. it currently lacks infrastructure for push notifications. This is the challenge that Ethereum Push Notification Service (EPNS), a local start-up, has set out to tackle.

Today, push notifications are at the heart of the majority of linked ecosystems. This is what lets applications on our iPhones and Android smartphones interact with consumers about discounts, delivery updates, and other actions. It’s been around since 2008.

Bank notification services send notifications to users keeping them up to date on their bank activity like transaction notifications, this aspect is not there in the Web3 ecosystem as of now.

 

 

How does it solve the problem?

EPNS intends to address this by creating ‘channels,’ which allow dapps to connect with users by giving them notifications. In essence, the channel will allow a decentralized wallet service to send alerts to users’ devices, informing them when the value of their non-fungible token (NFT) or cryptocurrency has changed, and so on.

The EPNS communication is built on the EIP-712 standard, which is an embedded system in the Ethereum protocol. The EIP-712 standard allows wallets to display data in signing prompts in a structured and readable format.

People bidding on their NFTs might get notifications of who is putting a bid on their NFTs just like how eBay sends notifications to its users when they have an item to bid.

 

 

Tokenomics

$PUSH is EPNS’ native governance coin. $PUSH gives its owners voting rights over the protocol’s essential functions, in addition to network fee money. Micro-fees are collected from service providers for alerts provided over the protocol. Its Mainnet went live on January 11, 2022.

Fees are dispersed in the following proportions: 70% for $PUSH holders and 30% for the ecosystem development pool. The $PUSH governance can vote on charge structures and other issues.

The total quantity of $PUSH tokens will be 100,000,000. The supply is distributed among the community, investors, team, advisers, and foundation.

The high % of community simply means that EPNS is a community-driven initiative with significant benefits for its users.

The price action of this token hasn’t been great which can mean that either the founders are dumping the money or the airdrop winners are dumping their tokens.

Out of the 53% in community 5.51% is reserved for LP rewards and staking, 3% is used for strategic investment, 2.58% is allocated for public listings and 1.15% is reserved for gratitude allocations.     

 

 

 

   

Competition Analysis

Currently, EPNS has no close competition which implies that it has a first-mover advantage in sending notifications in the Web3 ecosystem.

Team, Media & Community strength

Harsh Rajat is the co-founder of Ethereum Push Notification Service. He has had 1 past job as the Co-Founder / CEO at GrabShack.

 

Richa Joshi is the co-founder of Ethereum Push Notification Service. She was a senior consultant at Deloitte and got her degree from K. J. Somaiya Institute of Engineering and Information Technology.

They have over 109.9K followers on Twitter in over 2 years. It had recently raised around $10M in April, for a project which started 2 years ago and went live just months ago, it has gotten quite a lot of momentum by raising such funds. They have around 40-50 people in their team, most of which are from India. The advisor group of EPNS is one of the greatest for a start-up, they are, Nischal Shetty who is the founder of Wazirx, Sandeep Nailwal founder of Polygon, and Vivek Singh founder of Gitcoin.

Conclusion

EPNS is a relatively new project but it sure seems to have come up with an excellent solution to keep the users up to date, which means it has a lot of potential when the Web3 ecosystem expands.

Pros:-

  • Using the EPNS protocol, any dApp, service, or smart contract may deliver platform-independent alerts to users (wallet addresses) (mobile, tablet, web, fav. wallets, etc).

  • It supports Ethereum Name Service (ENS).

  • Enjoy receiving real-time Web3 alerts to any activity.

  • It has a first-mover advantage which gives an edge to EPNS in the crypto space.

Cons:-

  • The tokenomics of EPNS is not that strong as the price action of the token has fallen tremendously since it entered the market.

  • Being a very recent token it doesn’t have long trading history making it a little difficult to analyze the market.
 

 

 

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apecoin

ApeCoin Overview – 6 May 2022

Overview:

ApeCoin is an ERC-20 governance and utility token within the APE Ecosystem. It is a decentralized project inspired by Yuga labs’ Bored Ape Yacht Club.

The CMP of APE on 6th May is $13.22

 

What is Apecoin

ApeCoin is the governance and utility coin of the BAYC ( Bored Ape Yacht Club), a Yuga Labs NFT project with 10,000 unique bored ape artworks. The collection features profile pictures of cartoon apes that are procedurally generated by an algorithm. They came out after CryptoPunks.

The Ape Foundation, which runs ApeCoin, is monitored and controlled by the ApeCoin DAO, which strives to maintain governance as the community grows. As a result, ApeCoin holders become DAO voters, with the Foundation acting as a facilitator.

The APE Foundation’s mission is to oversee the growth and development of the APE ecosystem in a fair and inclusive manner.

It is currently #31 (based on Mcap) in the cryptocurrency market. Apecoin’s native token “APE” has a total supply of 1 billion APEs and currently has 28 million APEs (28%) in circulation.

There were 150M tokens kept aside for the airdrop amounting to $800M, with every BAYC NFT owner being able to claim 10,094 tokens. There was no stipulated time as to how long a person should hold the NFT to claim the airdrop so there was a group of exploiters who took a flash loan for $300,000 and bought a huge chunk of the tokenized NFT amounting to $1.4M and redeemed it for which they claimed 60K Apecoins. They unloaded the coins on Uniswap for $1.1M and repaid the flash loan, all of this was done within a span of one Ethereum block.

 

What is DAO (Decentralized Autonomous Organisation)?

A decentralized autonomous organization (DAO) is an entity with no central leadership. Decisions get made from the bottom-up, governed by a community organized around a specific set of rules enforced on a blockchain.

 

How does it add value?

There are several environmental projects linked to Apecoin such as:-

 

  • Solar Renewable Energy:- Most of us know that solar energy can be utilized for a variety of things. It is one of the possibilities for a clean energy source in the future that is based on low carbon energy production. The use of solar energy implies that there aren’t any greenhouse gas emitted into the atmosphere.

 

  • Waste To Energy Production:- This is to set up a Municipal Solid Waste (MSW) treatment plant using Maximum Yield Technology (MYT). This technology reduces the quantity of biodegradable trash put on landfills by creating as much waste-derived fuel and biogas energy as possible.

 

  • Sulfate Reduction Bacteria:- These bacteria will be beneficial in cleaning up oil sludge in storage tanks, slime in swimming pools, sewage treatment procedures, and any other locations where molds grow. Without a doubt, the use of this treatment is possibly safe for the environment as well as the people on the field.

Even though this is listed in the whitepaper it’s not the main reason why it adds value. The only possible utility to attract people is exclusivity to games, merch, events, and services, people are hoping they would get a Bored Ape NFT just by holding onto the tokens.

Owning a Bored Ape is now the epitome of NFT coolness for many. Holding the NFT can give you access to an exclusive Discord server with some celebrity owners, as well as free perks like additional NFTs or tokens from the BAYC ApeCoin. Bored Ape owners can also show off their NFT as their profile picture on Twitter with a Twitter Blue subscription.

Purchasing APECoin and investing in any of these initiatives (Solar Renewable Energy, Waste to Energy, and Sulphate Reducing Bacteria) is a step in the ongoing task of sustaining a habitable world for mankind.

The value of APECoin’s initiatives is projected to rise on their own, and notably with the inflow of contributors (participants in our projects and processes, including individuals) and investors. This will result in a boost in the value of APECoin for investors and those who own it.

 

 

Tokenomics

ApeCoin is an ERC-20 token launched on March 17, 2022, which means it was created on the Ethereum network. The total number of tokens in circulation is restricted to one billion, which were all created at the same time.

Here are the utilities of holding Apecoin:-

Governance: All ApeCoin holders are DAO members who can participate in protocol-related proposals and design new visions for both temporary and long-term aspects.

Access: ApeCoins grants holders access to games, exclusive merch, events, and services. It is the only selling point for this coin. 

Utility Token: Holders of ApeCoin may also use it as a digital currency to conduct transactions within blockchains

The recent airdrop which took place in March 2022 had a huge impact on the price of the coin.

As soon as people got the token, they sold it immediately causing the price to fall tremendously. The recent digital land sale fiasco where the Ethereum gas fees hiked tremendously due to scalability issues which led Apecoin to move to Polygon.

 

 

Competition Analysis

Apecoin is one of a kind token that doesn’t have much competition. The only close competition it has is Axie Infinity and Sandbox

 

Team, Media & Community strength

Greg Solano founded yuga labs and also works as an editor and book reviewer for a few literary blogs. He received his bachelor’s degree from the University of Virginia. He collaborated on a World of Warcraft book with one of the game’s creators.

 

 

Wylie Aronow is the founder of yuga lab and is originally from Miami. Aronow spent some time in Chicago, where he was interviewed by the Chicago Tribune for a “Readers of the Week” story.

 

 

Nicole Muniz is the Founder of ‘Something New’. She Previously worked at B-Reel as a Partner. Currently, she working with Yuga Labs as Leadership Team.

 

 

They have over 353.2K followers on Twitter and 7,574 members on telegram. It had seen a huge downfall recently which caught eyes of all news journalists and with it’s very recent update on the Polygon ecosystem and Elon Musk changing his Twitter profile picture as Bored Ape NFTS they have gotten a huge exposure now.

 

Conclusion

Bored Ape Yacht Club NFTs have undoubtedly entered the public’s consciousness, given the fact that many high-profile names now own one of these premium digital assets. The recent release of ApeCoin has added another ape-based asset to the crypto market, which could have massive potential in the future.

Pros:-

  • There are around 18k cryptocurrencies in the market most of which are not even known, Apecoin has an edge in that because of BAYC as celebrities have bought it, and is known in the market.

  • Apecoin is listed in all the major big exchanges which support high volume.

  • You can have shared ownership of Bored Ape without having to pay for the whole Bored Ape NFT.

Cons:-

  • Being a very recent token it doesn’t have long trading history making it a little difficult to analyze the market.

  • Apecoin is directly related to an NFT which is a very volatile market.

 

 

 

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trx

Tron Blockchain Overview – 29th April 2022

Overview:

Tron is a blockchain-based decentralized digital platform that has its own cryptocurrency, Tronix (TRX). The Tron Foundation was founded in 2017 by a Singapore non-profit organization. It has a TVL of $4.11B.

The CMP of TRX on 29nd April is $0.06792

 

What is Tron

TRON is a blockchain-based operating system that attempts to make this technology usable in everyday life. It is a decentralized platform focused on content sharing and entertainment.

These include simple distributed file sharing, financial incentives for content development, letting content producers establish their own personal tokens, and decentralizing the gaming sector. TRON is also one of the most widely used blockchains for developing DApps.

TRON software enables smart contracts, multiple blockchain systems, and decentralized apps, often known as dApps. The cryptocurrency platform, UTXO, has a transaction paradigm similar to Bitcoin (BTC). Transactions are recorded on a public ledger, where users may view the history of previous activities. There are currently 9 DApps created on the Tron network.

TRON is a large-scale initiative dedicated to the creation of a genuinely decentralized network and its infrastructure. The TRON Protocol, one of the world’s largest blockchain-based operating systems, provides public blockchain support for all Decentralized Applications (DApps) in the TRON ecosystem, including high throughput, scalability, and availability.

Tron Foundation has also released a stablecoin backed by TRX called USDD. The USDD will not be redeemed, managed, or stored by any centralized entity. Rather, it will achieve complete on-chain decentralization. USDD will be released decentralized and tied to the underlying asset, TRX. USDT is the USD-pegged stablecoin issued by Tether on the TRON network.

It is currently #22 (based on Mcap) in the cryptocurrency market. Tron’s native token “TRX” has a total supply of 101 billion TRXs and currently has 101 billion TRXs (100%) in circulation.

 

What problems does Tron solve?

Security, decentralization, and scalability are three characteristics of the ideal blockchain. However, achieving all three characteristics is extremely difficult and often blockchain achieves only 2 out of the 3 characteristics. If you go for Security and decentralization, you are sacrificing scalability, if you are going for decentralization and scalability then you are sacrificing security and if you are going for security and scalability, you are going to sacrifice decentralization.

 

 

Security: Blockchain is inherently secure, but is not entirely immune to hacking. If a hacker is able to secure control of more than half of the network (51%), they are able to alter a blockchain and manipulate transactions to steal from the network. In blockchain, the more nodes, the more security.

Scalability: In blockchain, scalability is similar to scalability in business; it refers to how large a network may expand in the future while keeping the current level of transaction speed and output.

Decentralization: The concept of decentralization is simple; it means that there isn’t a central authority that has power. When decentralization is taken out of the equation, we land back in the existing world of centralized organizations. 

 

How does it solve the problem?

The network is capable of resolving a variety of problems associated with centralized networks. On a centralized network, privacy is usually one of the top worries; people are concerned that their data may be leaked or even altered. Tron’s decentralized approach allows everyone to have more peace of mind, knowing that their data will always be safe.

Tron uses blockchain and peer-to-peer (P2P) network technology to cut out the middlemen and allow content providers to sell directly to customers. Solidity is a programming language used by software developers to construct programs that run on the Tron platform.

Through a decentralized platform, Tron ensures that the same restrictions do not apply when services are launched as a dApp on the blockchain. In turn, there are fewer limitations, worries about censorship, and geographic restrictions that developers and users should be concerned about.

TRON is built to handle huge on-chain scalability, letting developers create apps that can serve tens of thousands of users at the same time. TRON can now handle roughly 2,000 transactions per second (TPS).

 

 

Tokenomics

TRX crypto is the native token of Tron and is a deflationary token that is used to fuel programs running on the Tron network. Other use cases of TRX can be mentioned such as:

Rewards: TRX can be used to pay for the most voted candidates to create a new block.

Governance: Holders can use TRX to vote for candidates to run the TRON network.

Payment: Users can use TRX tokens to pay for goods and services within the TRON network.   

Tron held an initial coin offering (ICO) to support its early development. ICOs are when projects sell a portion of their tokens to raise funding. The Tron team raised $70 million in September 2017 as a result of the ICO. During the ICO, one TRX token was priced at $0.00186, resulting in significant profits for ICO investors.

 

 

 

 

Competition Analysis

Tron vs Ethereum

When compared to Ethereum, Tron has a quicker transaction speed which is around 2000 whereas Ethereum’s TPS is around 25. Tron is a more efficient network. In terms of scalability, Tron is unquestionably more scalable than Ethereum. Tron has a faster processing speed, which is essential for a decentralized network.

Ethereum’s network is far more decentralized than Tron’s network. Hacking the Ethereum network is not conceivable since it requires a compromise of 3/4ths of the network.

The native token of Ethereum is the world’s second-largest cryptocurrency by market capitalization, and it is far more popular than Tron.

The platform used by Tron is much more advanced compared to Ethereum. It has varying algorithms and consensus functioning at the backend as compared to Ethereum.

 

 

Tron vs Solana

Solana has a TPS of 25,000 whereas Tron has a TPS of 2000 which shows that Solana has an edge over Tron with respect to TPS. The number of validators on Solana is around 700 whereas Tron has over 25 validators.

The total value locked (TVL) of Solana is over $6.4B and Tron it’s over $4.1B. There are over 60 DApps on Solana and 9 on Tron. This means that even though Tron is relatively old as compared to Solana, Solana’s growth was way more as compared to Tron as the adoption rate of Solana was higher than Tron.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Team, Media & Community strength

Justin Sun is the founder of Tron. He studied at Hupan University and was featured on the covers of Yazhou Zhoukan in 2011 and Davos Global Youth Leaders in 2014. He was recognized as CNTV’s most notable new entrepreneur in 2015, and he was selected to Forbes China’s 30 Under 30 list from 2015 to 2017. But in December 2019 he officially stepped down as the CEO of Tron.

 

 

 

Lucien Chen is the Chief Technology Officer(CTO) and has worked with a number of top Internet businesses, including Netease, youdao, Tencent, Qihoo 360, and SM search. Chen has extensive expertise in big data, advertising algorithms, DMP systems, BT systems, CTR platforms, and high concurrent system framework designs, and is capable of constructing million-level system architecture.

 

 

 

Keelson Yang is the technical supervisor and has worked for UFIDA, a leading provider of enterprise management software, corporate Internet services, and corporate financial services in the Asia-Pacific region, and for China Roads Information Technology (Beijing) Co., Ltd. — China’s leading provider of express highway monitoring system solutions. Yang has been invested in blockchain technology and cryptography since 2013.

 

They have over 1.3M followers on Twitter. It has frequent news pieces mostly related to the ups and downs of TRX price which simply means that it’s been monitored on a regular basis as it has a lot of potential.

 

Conclusion

TRON is a scalable blockchain system that has used new approaches to address issues that traditional blockchain networks have encountered. TRON has helped the community to create a decentralized and democratized network by reaching over 2 million transactions per day, having over 700,000 TRX accounts, and over 2000 TPS.

Pros:-

  • It has one of the lowest gas fees.

  • TRON’s fundamental goal is to provide a decentralized entertainment platform that allows users to produce and sell content without the involvement of middlemen.

  • TRON can execute a large number of apps simultaneously.

  • Compared to a few top cryptocurrencies, Tron’s TPS is faster than theirs.

  • It has the largest circulation of stablecoins i.e. Tether.

Cons:-

  • TRON is still in its early stages of development, with considerable expansion projected over the next few years.

  • The TRON platform is frequently criticized for being overly centralized. Approximately half of the TRX coins on the market are kept in 10 addresses. As a result, the owners of these addresses have the ability to affect the price of this coin. The fact that none of the users is aware of who owns these tokens rocks the boat.

  • The first part of the Tron project has been executed, which includes launching its own blockchain. The rest of the plan must turn Tron blockchain into a decentralized internet and is written years in advance. Despite being launched in 2017 it has been running behind what it had planned.
 

 

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crypto.com-fnatic-partnership

Cronos Blockchain Overview – 22 April 2022

Overview:

Cronos is the first blockchain network that interoperates with both the Ethereum and Cosmos ecosystems, supporting DeFi, NFTs, and the metaverse.

The CMP of CRO on 22nd April is $0.4008

 

What is Cosmos Ecosystem?

Cosmos is a decentralized network of independent yet interoperable blockchains that may freely exchange information and currencies with one another.

Cosmos intends to overcome some of the challenges that existing blockchains have, such as scalability, usability, and governance, by giving developers tools to easily construct separate blockchains for a range of use cases and enabling blockchains in the network to connect with one another.

 

 

What is Cronos?

 

Cronos is the first Ethereum-compatible blockchain network based on the Cosmos SDK, which is an open-source framework for building multi-asset public Proof-of-Stake (PoS) blockchains. Cronos, an open-source and permission-less Layer 1 chain, intends to substantially extend the DeFi, GameFi, and general Web3 user communities by allowing developers to easily move apps and crypto assets from other chains while benefiting from low transaction costs, high throughput, and fast finality, it went live on November 2018.

Cronos Chain is one of the solutions offered by Crypto.com to help speed the worldwide adoption of cryptocurrencies as a method of improving personal control over money, preserving user data, and protecting users’ identities. The CRO blockchain is largely responsible for powering the Crypto.com Pay mobile payments app.

Crypto.com has introduced CRO as a token to provide its consumers with additional benefits and discounts through its main credit card product. CRO introduced incentives like decreased trading costs, larger loan rewards, and more as Crypto.com expanded into an ecosystem of crypto solutions.

With its transformation into the primary token of the Crypto.org Chain and Cronos blockchains, CRO began to be utilized as the primary payment mechanism for transactions on this blockchain, while maintaining its list of uses inside the Crypto.com system.

It is currently #19 (based on Mcap) in the cryptocurrency market. Cronos’ native token “CRO” has a max supply of 30 billion CROs and currently has 25.26 billion CROs (83%) in circulation.

 

 

What problems does Cronos solve?

Security, decentralization, and scalability are three characteristics of the ideal blockchain. However, achieving all three characteristics is extremely difficult and often blockchain achieves only 2 out of the 3 characteristics. If you go for Security and decentralization, you are sacrificing scalability, if you are going for decentralization and scalability then you are sacrificing security and if you are going for security and scalability, you are going to sacrifice decentralization.

 

 

 

Security: Blockchain is inherently secure, but is not entirely immune to hacking. If a hacker is able to secure control of more than half of the network (51%), they are able to alter a blockchain and manipulate transactions to steal from the network. In blockchain, the more nodes, the more security.

Scalability: In blockchain, scalability is similar to scalability in business; it refers to how large a network may expand in the future while keeping the current level of transaction speed and output.

Decentralization: The concept of decentralization is simple; it means that there isn’t a central authority that has power. When decentralization is taken out of the equation, we land back to the existing world of centralized organizations. 

 

 

How does it solve the problem?

Crypto.com focuses on four primary solutions: payment, trade, financial services, and the metaverse.

To make all of this a reality, the business has created mobile applications that allow consumers to purchase and trade cryptocurrencies and non-fungible tokens (NFTs) at fair value. It created Crypto.com Pay to allow companies to accept and make bitcoin payments.

On the more sophisticated side, it has an exchange platform that provides interested traders with 10x leverage. It has created its own Decentralized Finance (Defi) wallet, which provides users access to their bitcoin holdings while also allowing them to earn income through Defi protocols.

The high gas fees are destroying the floor price on numerous NFTs and DeFi dApps. As a result, many dApps are seeking quicker and less expensive platforms to port to. Cronos help developers transfer their dApps to a cheaper, quicker, and scalable blockchain where consumers won’t have to pay exorbitant gas prices.

This is due to the fact that Cronos employs Proof of Authority (PoA), a greener, more streamlined, and scalable consensus method secured by validators. It is quicker than existing consensus algorithms, more scalable, and is based on highly contentious mining consensus.

Cronos intends to provide high throughput (supporting 50 million transactions per day), fast finality ( 5-6 seconds), and offers low cost (less than 1 USD per transaction). 

 

 

Proof of Authority(PoA)

Because the PoA consensus mechanism exploits the value of identities, block validators are not staking currency but rather their own reputation. As a result, PoA blockchains are protected by validating nodes that are randomly chosen as trustworthy organizations.

The Proof of Authority concept is based on a small number of block validators, which makes it a highly scalable system. Blocks and transactions are checked by pre-approved individuals who serve as system moderators.

 

 

 

Tokenomics

 

Cronos is a non-mineable coin having a restricted number of 30 billion tokens in circulation. CRO is also a deflationary token, which means that the overall amount of Cronos tokens diminishes with time. Cronos Chain’s mainnet beta went live on Nov. 8, 2021,

As the overall quantity of tokens becomes increasingly rare, this typically has a positive long-term influence on pricing.

It is important to note that 40% of the total supply has been frozen until November 7th, 2022, which indicates that investors can expect the price of CRO to fall in the mid-term when these tokens become available on the market again.

 

 

Competition Analysis

 

Cronos vs Binance

 

BNB is considered to be one of the greatest utility tokens. While BNB may be used on the Binance (BNB) exchange to trade and pay fees, it can also be utilized outside of the Binance (BNB) ecosystem. BNB may also be used to pay for services including credit card payments, internet shopping, travel, entertainment, and transfers.

Binance (BNB) consumers gain savings while paying exchange fees, which is one of the primary advantages of investing in BNB. Fee reductions are an ingenious approach to establishing a growing network of supporters while simultaneously serving as a facilitating force for day-to-day merchants. It boasts rapid transactions and among the industry’s lowest transaction costs, with all traders paying a charge of 0.1%.

Cronos (CRO) offers a good APY for staking as well. As of February 2022, the staking APY for CRO is 10%. This is the amount of CRO you receive in exchange for lending your CRO to assist with the operation of the Crypto.com blockchain.

Crypto.com also provides reduced trading costs. If you have CRO in your Crypto.com account, you may be eligible for cheaper trading costs. This is especially advantageous for low-volume traders. Finally, in order to qualify for larger incentives with Crypto.com, your CRO must have been staked for at least 6 months, and you can only qualify if you stake more than $400,000.

 

 

Team, Media & Community strength

Kris Marszalek is a Polish entrepreneur and the CEO of Crypto.com, a cryptocurrency and payments network situated in Singapore. Marszalek established the Hong Kong-based mobile application Yiyi and the e-commerce company Beecrazy before moving into cryptocurrency. When Beecrazy was bought by iBuy Group, which eventually rebranded as Ensogo, he retained his position as chief operations officer.

 

 

Rafael Melo co-founded Crypto.com in June 2016 and currently works as the group’s CFO. He began his career in finance in a range of industries, including aerospace, payments, and e-commerce. He is a certified public accountant with a Finance MBA from the Institution of North Carolina at Chapel Hill and a Bachelor of Science in Engineering from the Universidade Federal de Minas Gerais, Brazil’s largest federal university.

 

 

Bobby Bao is the co-founder and executive director of CRYPTO.com (previously Monaco), a payment and cryptocurrency platform that was created in 2016. Prior to launching Crypto.com, Bao was the Head of Corporate Development at Ensogo, where he was in charge of the company’s cross-border business unit as well as investor relations.

 

They have over 164.8K followers on Twitter. It has been up in the news articles because of its recent partnership with Chainalysis which will help users to track large volumes of CRC-20 tokens and also the astonishing performance it has had since it’s Mainnet launch.

 

 

Conclusion

Crypto.com’s Cronos chain is EVM-compatible. The Cronos chain was created to boost usefulness on Crypto.com, and its market performance has been phenomenal. Cronos has gained widespread commercial acceptance. This is evident by its rapidly increasing Cronos market cap. Despite the market meltdown in 2022, the Cronos’ price performance has been strong.

 

Pros:-

  • Account-holders can also earn significant interest rates. The highest amount of interest you may earn is 14 percent.

  • The Crypto.com app, like most of the leading cryptocurrency exchanges, makes it simple to convert fiat cash into cryptocurrency. It takes over 20 fiat currencies, including the US dollar, the British pound, and the euro.

  • You can deposit money into your Crypto.com account via an electronic bank transfer or wire transfer without paying any fees. You can also buy and sell cryptocurrencies at true cost, making it one of the better value exchanges.

  • You can spend your crypto with a prepaid Visa card, which makes it a great option for making payments in crypto.

Cons:-

  • The disadvantage of trying to be everything to everyone is that the website might be overwhelming at first. There’s a lot to take in and a lot of terminologies to learn, especially if you’re just starting out.
  • All of its currencies are not available everywhere. Over 150 cryptocurrencies and 20 fiat currencies are available on Crypto.com. A few of these cryptos are not accessible in the United States, and others are only available in select states.
 
 
 

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