El Salvador hat im September 2021 Bitcoin offiziell zum gesetzlichen Zahlungsmittel erklärt. Seitdem hat das lateinamerikanische Land die Kryptowährung zum Kern seiner wirtschaftlichen Wachstumsstrategie gemacht.
BNB Chain launches dApp platform with anti-scam alarm
BNB Chain’s dApp platform DappBay will help users assess projects before investing in them.
BNB Chain on Thursday announced the launch of a new decentralised applications (dApps) platform, designed to offer a scam alert to users as they look to invest in the DeFi and Web3 ecosystem.
The new tool is available at BNB Chain’s DappBay, a dApp hub that features a built-in risk assessment system dubbed Red Alarm.
An anti-scam feature
Red Alarm is an anti-scam feature that provides for an innovative scanning tool which users can leverage to easily navigate through new projects.
With it, a user can spot potentially high risk projects and use the given details to make informed decisions, thereby keep off what could turn out to be a rug pull or scam
To assess new projects for any possible red flags, a user will need to enter the contract address of the given project. The BNB Chain community can then use the assessment details to rank newly launched projects in DeFi, NFTs and GameFi, Gwendolyn Regina, Investment Director at BNB Chain said in a statement.
“Most importantly, the Red Alarm feature helps users in staying one step ahead of scammers; the system warns in real time of potential risks associated with the projects, allowing the community to make informed investment decisions,” she added.
The Red Alarm page shows one of the new DeFi projects to have “significant risk”, noting that the “contract contains logical or programming backdoors that are able to drain users’ funds.”
DappBay will not only benefit BNB Chain users, but also the broader blockchain community.
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Coinbase ‘grew a ton in 2021’, and is still adjusting, CEO says
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Coinbase added to its headcount by 200% year-over-year as crypto saw massive growth.
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The risks of that is what informed the decision to thin out the employee numbers in June.
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Now the focus on “driving efficiency” with scaling in mind to better serve customers.
Coinbase is looking at ways to ensure efficiency at all of its operations during these lean crypto times, Brian Armstrong, the CEO of the top crypto exchange said in a blog post.
Commenting on the company’s massive employee growth over the past eighteen months, Armstrong noted that it was a “ton” of growth. However, even as they adjust to that, it’s time to focus on “driving more efficiency.”
Coinbase grew a ton in 2021 and we’re still adjusting to that growth. One of the crazy parts about our industry is that in any given year we might be growing 300-500% or -50%. It makes it incredibly challenging to plan and culturally to absorb so many people during up periods.
— Brian Armstrong – barmstrong.eth (@brian_armstrong) July 12, 2022
According to the Coinbase boss, unchecked workforce growth may see a company slow down and become less efficient.
When this happens, most largely to massive scaling, getting off the wrong turn often eats up “more dollars, more people and more time” just to get things going. In the meantime;
“Coordination headwinds increase, vetocracies emerge, risk tolerance fades, and teams become inwardly focused instead of staying focused on their customers,” he added, pointing to the risks of unchecked headcount growth.
What great companies do
Armstrong, whose company is among those to lay off employees amid the crypto winter, said that the outcome (layoffs) was what any great company would do.
“Every great company, from Amazon to Meta to Tesla, found ways to retain their founding energy in conjunction with appropriate controls, even as they scaled to be much larger than Coinbase is today,” he wrote.
He explained that in most cases, the so-called great companies always find ways to “maintain their insurgent mindset,” doing so to avoid careening into complacency and turning into an “irrelevant” at a later date.
“That’s why we’re focusing on driving more efficiency at Coinbase. After 18 months of ~200% y/y employee growth, many of our internal tools and organizing principles have started to strain or break. So we’ve been digging in to identify the set of changes we need to make to help us succeed at this new scale,” he added.
One of the steps towards achieving this was to cut their headcount as was done in June.
The exchange will also continue to find novel ways to add more efficiency to its services, with the objective being to return to that “mindset and approach” by which the company saw much success.
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Is Tron (TRX) about to rally ahead of other cryptocurrencies?
With up to $5 billion in acquisitions underway, Tron could experience FOMO in 2022.
Key points:
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Tron has a history of high-profile acquisitions that have in the past given it a boost in value.
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Tron founder, Justin Sun, has announced that they are readying $5 billion for another series of acquisitions.
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Going by past performance after such acquisitions, Tron could be the most undervalued top 100 cryptocurrencies to watch in 2022.
It’s a tough time for cryptocurrencies, as external and market-related factors pressure the market. This is also a perfect opportunity to search for undervalued cryptocurrency gems that could do well once the markets rebound.
When looking for hidden gems, one of the critical factors to consider is news that could help drive up the value of a cryptocurrency. On this front, Tron looks like a cryptocurrency that could lead the recovery in the coming weeks. This follows an announcement by the founder that the Tron project was about to go on an acquisition spree. If history is anything to go by, this is an excellent reason to invest in Tron (TRX).
A look at the history
After the cryptocurrency crash of 2018, Tron (TRX) was among the first to recover. This followed the move by Tron to acquire BitTorrent, one of the largest peer-to-peer data sharing networks globally.
Is a repeat about to happen?
So, is Tron about to do a repeat of what happened after BitTorrent. In his most recent comments on Tron, Justin Sun, the cryptocurrency founder, said they were ready to spend $5 billion on acquisitions. He added that the focus would be on platforms that have wide adoption. He said that they would target those in Centralized Finance and Decentralized Finance.
Sun further added that the worst could be over for the market and that what will follow is a clean-up process as the market picks itself back up.
Sun’s comments are a big deal and could have several positive implications for Tron (TRX).
Firstly, once the acquisitions start, Tron could experience FOMO. That’s because, at a time like this, when there is little going on in the market, such news will trigger investor expectations of Tron doing well. The potential for FOMO makes Tron a top cryptocurrency worth keeping an eye on in the coming days.
Besides FOMO, such acquisitions would add significantly to Tron’s intrinsic value. For context, the purchase of BitTorrent added significantly to Tron’s inherent value, which is reflected in its value in the 2020/21 rally.
With $5 billion, there are a lot of projects much more significant than BitTorrent that Tron can buy. This means going into the next bull run, Tron’s intrinsic value will be much higher than it is now. This factor could see Tron do multiple times its current price in the next cryptocurrency bull run.
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Top cryptos most compliant to new EU crypto regulations
Ethereum and Cardano fit the bill in terms of environmental consciousness
Key points:
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The EU has come up with crypto regulations, and one of the critical areas of focus is the environmental metrics of cryptocurrencies.
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Cardano and Ethereum are among the cryptocurrencies that perfectly align with these regulations.
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Aside from compliance with regulations, these two cryptocurrencies are growing in real-world adoption.
Recently, the European Union developed a raft of regulations to bring sanity to the crypto market. The regulations also give an idea of how cryptocurrency regulations could go globally. They also offer an idea of the best cryptocurrencies to buy going into the future.
One of the critical aspects of the regulations is that cryptocurrencies will be required to declare their carbon footprint. This is an indicator that going forward; the EU will be more pro-environmentally friendly cryptos.
From an investor perspective, this is also a pointer to the type of cryptocurrencies that are likely to find more favor with investors going forward. Below are the top-ranking cryptocurrencies to keep an eye on after the EU regulations.
Cardano
One of the key reasons why Cardano (ADA) became a thing in the first place is to deal with the environmental costs of Proof-of-Work cryptocurrencies like Bitcoin and Ethereum. As such, it is perfectly in line with the new EU regulations. That said, Cardano is a lot more than just environmentally-friendly crypto.
Cardano also happens to be one of the most technologically advanced cryptocurrencies. Its Ouroboros Proof-of-Stake algorithm is one of the best because it strikes a perfect balance between security, decentralization, and scalability.
On top of that, Cardano has gained significantly in adoption. For instance, in places like Ethiopia and Rwanda, the Cardano blockchain is already being used to streamline government systems. Since it is in the developing world that such systems are needed the most, Cardano is on the right track to adoption and value growth.
That’s why it stands out as the top crypto to watch now, even as the crypto bear market persists.
Ethereum
For years, Ethereum (ETH) has been bad for the environment since it uses a Proof-of-Work algorithm. However, since 2020, it has been transitioning to Proof-of-Stake, in what’s popularly known as Ethereum 2.0.
Ethereum has made significant strides on this front, and a testnet merge of Ethereum and Ethereum 2.0 is complete. It is widely expected that in a month or so, Ethereum will be running as Ethereum 2.0 and use only a tiny percentage of the energy it was using when running as Proof-of-Work.
Besides being in line with the new EU guidelines, there are many other reasons why Ethereum looks attractive as an investment. One of them is security. In the altcoins market, Ethereum is easily the most secure and decentralized. After the events of the last few months, where some cryptos have collapsed, Ethereum’s security is likely to see it attract more investors in the EU and outside.
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